Sembcorp Marine acquires SSP Offshore

Sembcorp Marine acquires SSP Offshore

Singapore: Sembcorp Marine announced that its wholly-owned subsidiary Jurong Shipyard has signed a sales and purchase agreement with SSP Offshore to acquire all its business assets for $21m.

SSP Offshore is a Houston-based company that specializes in the design, engineering and delivery of innovative floating production and drilling solutions for the oil and gas industry.

The key assets of SSP Offshore include its flagship SSP Floater technology, the next-generation circular hull form and the company’s entire portfolio of proprietary Satellite Services Platform solutions, including the SSP Driller for deepwater drilling, the SSP Plus FPSO for production and storage, and the SSP Hub for logistic hub applications.

“With this acquisition, Sembcorp Marine now owns the full range of SSP intellectual property and proprietary products of next-generation SSP floaters. These will further sharpen our technological capabilities and enable us to offer a suite of innovative solutions to cater to our customers’ diverse operating requirements,” said Wong Weng Sun, president & ceo of Sembcorp Marine. [11/09/14]