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

Share this article

Follow Subsea World News

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

IADC World Drilling 2017 Conference & Exhibition

This event showcases products like Cutting edge, drilling technology, well control, health, safety, environment, training and environment industry…

read more >

Decom Offshore 2017

Decom Offshore 2017 is expected to bring together a global audience of over 400 key representatives from the late life and decommissioning…

read more >

IMCA ROV SEMINAR

This seminar is designed to assist IMCA members in dealing with these, with a programme of technical and operational topics affecting…

read more >

Offshore Wind Energy 2017

In 2017, EWEA and RenewableUK will join forces to bring you the greatest conference and exhibition Europe has ever known in the history…

read more >