HOUSTON, TX, Jan. 21, 2014 /CNW/ - SSP Offshore Inc. ("SSP") today announced that it has entered into an agreement with Bristow Group Inc. ("Bristow") to collaboratively pursue the development and marketing of SSP's proprietary SSP HUB offshore logistics platform internationally.
The SSP HUB is a design extension of SSP's line of SSP® floating platforms that offers a new methodology for long-distance transport of offshore personnel to and from offshore oil and gas platforms using a combination of high-speed boats and infield helicopter transport. Management SSP believes that the unique features of the SSP HUB as an offshore logistics base provide an opportunity for increased safety and economic efficiency in high-volume personnel transport with respect to the recent deepwater oil and gas prospects developments located further offshore. In addition to personnel transport, the stability and storage capacity of the SSP HUB can deliver a variety of collateral value-enhancing service offerings to the offshore industry including bulk fluid storage, parts and equipment warehousing, search and rescue support, emergency lodgings, and infield hospital facilities.
Under the agreement between the parties, Bristow and SSP will each contribute their company's specific expertise to collaboratively finalize specific design details and operational protocols for the SSP HUB to maximize the efficiency of flight operations, high-speed boat operations and on-platform personnel lodging and logistics. The parties will also jointly market the SSP HUB platform as a solution to prospective clients for adoption in various international regions including Gulf of Mexico, West Africa, Australia, Southeast Asia and the North Sea.
Bristow is a leading international provider of offshore helicopter services to the oil and gas industry. The agreement with SSP provides Bristow with specific long-term exclusivity rights in terms of being the provider-of-choice for the delivery of infield helicopter transport services to and from the SSP HUB. As consideration for the granting of such rights, Bristow has agreed to make an exclusivity fee payment to SSP.
Paul Illingworth, CEO of SSP, stated that "SSP is extremely pleased to welcome Bristow as a partner in the SSP HUB development. We believe that Bristow is the best in the world at providing offshore helicopter services, and the fact that they have chosen to partner with us certainly validates the effort and investment we have put into maturing the SSP HUB design over the past couple of years. Bristow brings significant expertise and commercial contacts to the SSP HUB initiative, and we look forward to a long and mutually-beneficial relationship with Bristow in bringing this concept to the market."
SSP further announced that it has entered into a separate collaboration agreement with Lider Aviação ("Lider"), a Brazilian affiliate of Bristow, to jointly pursue commercialization of the SSP HUB in Brazil with a particular emphasis on the anticipated upcoming Petrobras logistics hub tender. Lider is the leading provider of offshore aviation services in Brazil and will contribute its technical expertise to the SSP consortium that is advancing the SSP HUB project in Brazil.
ABOUT SSP OFFSHORE INC.
SSP Offshore is a public company listed under the symbol "SSZ" on the TSX Venture Exchange. SSP Offshore is actively commercializing its proprietary SSP® FPSO platform design in multiple formats for FPSO, deepwater drilling and logistics hub applications. For more information, visit the company's website at www.sspoffshore.com.
FORWARD-LOOKING STATEMENTS DISCLOSURE
Statements contained in this news release that state SSP's management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. These forward-looking statements include statements regarding expected revenues, commencement dates, the impact of activity levels, business performance, and market and industry conditions. It is important to note that the actual results of the relevant company could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to different materially from those in the forward-looking statements is contained from time to time in SSP's SEDAR filings, including but not limited to its MD&A and financial statements. SSP Offshore Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future events or otherwise.
The TSXV has neither approved nor disapproved of this press release.
SOURCE: SSP Offshore Inc.
For further information:
L. Daniel Wilson, President, at (403) 358-1110 (phone); or via email at [email protected].