Update on Sevan Driller

Further to announcement made on December 6, 2010, Sevan Driller has commenced
drilling and is back on dayrate as from today.

"I am pleased with the way this situation has been handled by our operations
team. The cooperation with the vendor and Petrobras has been excellent", states
Jan Erik Tveteraas, CEO of Sevan Marine ASA.

The information in this announcement is subject to the disclosure requirements
of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs -
Continuing Obligations.

Sevan Marine ASA is specializing in owning, operating and licensing FPSOs and
drilling units, based on its patented cylindrical floater technology. Sevan
Marine ASA is listed on Oslo Børs with ticker SEVAN.

For more information, please refer to www.sevanmarine.com.

For further information, please contact:
Viviana Hiis, IR Coordinator, Sevan Marine ASA
+47 37404208 office
+47 95816563 mobile



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