SSP Offshore Enters MOU for FPSO Projects in Brazil

SSP Offshore Enters MOU for FPSO Projects in Brazil

SSP Offshore announces that it has entered into a Memorandum of Understanding (the “MOU”) with a new strategic partner to jointly pursue floating storage, production and offloading (“FPSO”) projects in Brazil and internationally based on the Corporation’s proprietary round SSP designs. The new strategic partner is an entity with extensive experience in the fabrication, installation and operation of offshore floating oil and gas infrastructure worldwide.

The MOU provides that this entity will exclusively bid the SSP design for FPSO projects in Brazilian territorial waters for a three year period, and in return SSP Offshore commits to work exclusively in partnership with the strategic partner over the same time period through a joint venture structure (on terms yet to be defined) for all Brazilian FPSO projects for which in-country hull fabrication is commercially advantageous.

The MOU also allows for the cooperation of the parties on a non-exclusive basis for FPSO projects outside of Brazil, with a particular focus on prospective projects in West Africa.

Paul Illingworth, CEO of SSP Offshore, stated: “We are extremely pleased to have been selected by our new strategic partner as key component of their future Brazilian FPSO strategy. This organization is a recognized world leader in all components of FPSO project execution and operations, and will provide SSP Offshore with a significant degree of technical and commercial execution experience and credibility along with reliable in-country fabrication capacity in Brazil.

“In addition, this relationship provides SSP Offshore access to long-standing fabrication experience and capacity in key West African countries, which will be critical to the success of the commercialization strategy that we have been pursuing in the West African region over the past two years.

“We have already established a Coordination Committee that has been tasked with identifying the particular projects to be jointly pursued under the MOU, and we anticipate that the first bids will be submitted in the upcoming quarters.”

Press Release, September 14, 2012

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FPSO Europe Congress

 

Pursuing Cost-Optimization & Project Excellence across Europe’s FPSO Value Chain!

Launched to great success in 2015, the FPSO Europe Congress is set to return on 24-25 February 2016 in London for yet another exciting gathering of Europe’s leading oil operators, FPSO contractors, EPCs, shipyards and solution providers to discuss the most topical and critical FPSO developments in the North Sea, Latin America, Brazil and West Africa market.

 

Why Attend the 2nd Annual FPSO Europe Congress?

  • Discover how FPSO leaders are embracing the new realities of a low oil price environment – what are the strategies to adopt in pursuit of viable economical FPSO projects?
  • Brainstorm with industry experts on innovative FPSO engineering, construction and technology breakthroughs leading to significant CAPEX and OPEX savings
  • Review, refine and optimize your existing FPSO operations – how can we enhance oil recovery and extend FPSO asset lifetime?
  • Learn from FPSO experts on the ins-and-outs of delivering successful FSPO projects in North Sea, West Africa, Latin America and Brazil – how can we comply with local content and form effective native partnerships?
  • Engage and form sustainable partnerships with European-based oil companies and FPSO contractors that are leading offshore E&P and FPSO projects in the region

 

2016 FPSO Distinguished Speakers Include:

  • Curtis Lohr, Stones Project Manager, Shell
  • David Hartell, Senior Development Manager, Premier Oil
  • Terry Hughes, Project Director, Tullow Oil
  • Sid Sircar, Facilities Delivery Manager – Catcher Development, Premier Oil
  • Michael Wyllie, Group Technology Director, SBM Offshore
  • Chris Brett, President, Teekay Offshore
  • Puneet Sharma, Vice President, MODEC
  • Eirik Barclay, CEO, Yinson Production

 

The FPSO Europe Congress 2016 is proud to bring you an updated program offering fresh perspectives, creative solutions and critical market intelligence fundamental to FPSO business sustainability as we discuss just HOW and WHAT you can do in pursuit of a viable, efficient and safe FPSO strategy.

For more information please visit the website at http://goo.gl/uvYsrk or email rani.kuppusamy@fpsonetwork.com

 

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