SSP Completes Environmental Tests

SSP Offshore Inc. announced that the SSP team and its proprietary platforms, the SSP320 and SSP Plus, reached a major development milestone, completing a full spectrum of global environment performance tests carried out at the LabOceano/Coppe testing basin in Rio de Janeiro, Brazil. The MARIN Institute operating in collaboration with Oceanica Offshore supervised these tests.

SSP Offshore hosted a Showcase Day on November 19, 2009 for selected participants at the LabOceano facilities. The program included presentations from the MARIN Institute, Oceanica Offshore and LabOceano, and highlighted the results obtained for the SSP320 and the SSP Plus platforms for FPSO and FPDSO applications in a full range of operating conditions. The Brazilian tank tests represent the culmination of ongoing development and optimization efforts carried out by the SSP team based on input and technical exchanges with various operators. Completion of the Brazilian tank tests will allow SSP Offshore to focus on the next stage of its commercialization strategy.

Designed for stability, safety and performance, the SSP product line offers a safer and more flexible floating platform for offshore applications. Operators will experience substantial reductions in capital costs by eliminating turret swivels, CALM buoys and active ballasting systems, as well as eliminating the need to disconnect during extreme storm conditions. The unique and patented hull design facilitates dry-tree or wet-tree field development solutions, thereby enabling hybrid applications such as combined storage and drilling capacity. The SSP line is able to accommodate multiple riser types and sizes, and its flat-plate construction, which does not require a drydock, expands the potential locations for fabrication to maximize on local-content requirements.