SSP Satellite Services Platform FPSOs Complete Tests in Brazil

SSP Offshore announced that the SSP team and its proprietary platforms, the SSP320® and SSP+PLUS®, reached a major development milestone with the completion of global environment performance tests carried out at the LabOceano/Coppe testing basin in Rio de Janeiro, Brazil. These tests have been supervised by the MARIN Institute operating in collaboration with Oceanica Offshore.

The Corporation will host a Showcase Day on November 19, 2009 for selected participants at the LabOceano facilities. The Showcase Day program includes presentations from MARIN Institute, Oceanica Offshore and LabOceano, and will highlight the results obtained for the SSP320® and the SSP®+PLUS platforms for FPSO and FPDSO applications. The Brazilian tank test represents 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 the Corporation to focus on the next stage of its commercialization strategy.

Designed for ultimate Stability, Safety and Performance, the SSP® product line offers a safer and more flexible floating platform for offshore applications as well as substantial reductions in capital costs by providing the opportunity to eliminate turret swivels, CALM buoys, active ballasting systems, along with eliminating the need to disconnect during extreme storm conditions. The SSP's® 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® is able to accommodate multiple riser types and sizes and its flat-plate construction without a dry-dock expands the potential locations for fabrication to maximize on local-content requirements.