The Board of Directors of Sevan Marine ASA has convened the Ordinary General
Meeting in Sevan Marine ASA on Thursday May 25, 2012, at 1.00 p.m. (CET) at the
Company's offices at Kittelsbuktveien 5, Arendal, Norway.

Agenda for the Ordinary General Meeting:

1. Opening of the General Meeting by the Chairperson of the Board of
Directors. Registration of attending shareholders
2. Election of the chairperson of the meeting. The Board of Directors proposes
that the meeting is chaired by the Chairperson of the Board of Directors
3. Election of one person to sign the minutes together with the chairperson of
the meeting
4. Approval of the notice for meeting and the agenda
5. Information on the Company's operations
6. Approval of the annual financial accounts for the parent Company and the
Group for the financial year 2011, and the Board of Directors' report
7. Determination of the remuneration of the Board of Directors, the Audit
Committee and the Nomination Committee
8. Approval of remuneration of the auditor for the financial year 2011,
including a briefing from the Board with regards to the distribution of
remuneration of auditing and other services
9. Election of Directors and members of the Nomination Committee
10. Statement from the Board of Directors regarding establishment of salary and
other benefits for senior management in Sevan Marine
11. Authorizations to the Board of Directors to increase the share capital

11.1 Withdrawal of existing authorizations to increase the share capital

11.2 Authorization to increase the share capital in connection to employee stock
option programme

12. Amendment to the Articles of Association.

The Board of Directors proposes that the General Meeting passes the following
resolution:

"The second sentence in § 5 of the Articles of Association shall be amended to
read:

Two board members jointly or the CEO and one board member jointly hold the
signature provisions."

The Notice of the General Meeting will be sent to all shareholders with known
address.
This notice, information to the shareholders regarding the General Meeting and
the documents in respect of the matters to be considered at the General Meeting
are available at the web site of Sevan Marine ASA; www.sevanmarine.com. The
documents in respect of the matters to be considered at the General Meeting may
also be obtained, free of charge, by contacting the Company's Investor Relations
Coordinator; Leif Gerhard Andersen jr. (tel: +47 37 40 40 00, e-mail:
IR@sevanmarine.com).

Attached as appendices to this announcement are (in Norwegian and translation
into English):

* Notice of the Ordinary General Meeting
* Attendance form/power of attorney
* The Board of Director's reasoning and proposal for the resolutions to be
passed
* Information to the shareholders regarding the Ordinary General Meeting
* Annual Report 2011

Norwegian documents:

* Innkalling til ordinær generalforsamling
* Møteseddel/fullmaktsdokument
* Styrets forslag til vedtak
* Informasjon til aksjonærene

As of today, the Company has issued 52,606,999 shares. All shares carry one vote
at the General Meeting. The Articles of Association do not include any voting
restrictions.
Shareholders who wish to attend the General Meeting are requested to notify the
Company within May 23, 2012, at 5.00 p.m. (CET) by submitting the enclosed
attendance form to Nordea Bank Norge ASA. Power of attorney may be given to the
Chairman of the Board of Directors; Siri Hatlen, or to the CEO; Carl Lieungh.

Shareholders may present proposals for resolutions in respect of the matters to
be discussed at the General Meeting. Such proposals may be sent to the Company
by e-mail to IR@sevanmarine.com or by mail to Sevan Marine ASA, Kittelsbuktveien
5, 4836 Arendal. Proposals should be marked "Proposals for resolutions -
Ordinary General Meeting Sevan Marine ASA 2012".

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 design, engineering and project execution of
floating units for offshore applications, with a main focus on Floating
Production, Storage and Offloading units (FPSOs). Sevan Marine ASA is listed on
Oslo Børs with ticker SEVAN. For more information, please refer to
www.sevanmarine.com.

For more information please contact:

Marit Ytreeide, Press Contact (Media)
+47 901 28 308 mobile

Carl Lieungh, CEO, Sevan Marine ASA (Media)
+47 37 40 40 00 office

Kjetil Vangsnes, CFO, Sevan Marine ASA (Analysts)
+47 37 40 40 00 office

[HUG#1608968]

SEVAN MARINE ASA: Notice of Ordinary General Meeting