HOUSTON, Feb. 24 /CNW/ - Gary Quenan, Chairman of SSP Offshore Inc. ("SSP Offshore"), today announced that Paul Illingworth has agreed to join SSP Offshore as Chief Executive Officer. "This is a very exciting day for SSP Offshore" stated Gary Quenan "and demonstrates the significant progress that we have been making in the past several months in advancing the technical and commercial status of our proprietary SSP floating platforms. Paul Illingworth is an experienced and highly-respected executive in the floating production industry. His involvement with commercializing new floating production designs in the past and his extensive industry contacts and project execution knowledge make him the ideal candidate to lead SSP Offshore in the upcoming years. "
Paul Illingworth has over 30 years experience in the offshore oil and gas business, prior to which he served 7 years in the British Navy. He has a degree in Nautical Studies from London City Polytechnic (1980) and a Master Mariner Certificate (Class 1) from Lowestoft Nautical College (1984). Paul has served in a variety of senior executive capacities with companies engaged in the offshore oil and gas service industry. Since 2001, Paul has served as Senior Vice President in charge of global business development and as divisional President for one of the leading international companies engaged in the FPSO and FPDSO industry.
"This is a very exciting challenge for me," commented Paul. "I believe that SSP Offshore is uniquely positioned to take advantage of exciting new opportunities in the floating production market and I look forward to leading this effort. The unique and proprietary SSP designs provide tremendous technical and commercial benefits for the offshore industry, and I believe that SSP Offshore has the potential to be a very important participant in the market."
Paul will be based in SSP Offshore's Houston office, with an official start date of April 1, 2010. L. Daniel Wilson, the interim CEO of SSP Offshore over the past several months during its transitional period, will remain with SSP Offshore in a senior executive capacity.
About SSP Offshore Inc.
SSP Offshore is a public company listed under the symbol "SSZ" on the TSX Venture Exchange. The Corporation's is actively commercializing its proprietary SSP(R) FPSO platform design in two formats: (i) SSP Base and (ii) SSP Plus+. Visit the company's website at www.sspoffshore.com for more information.
Certain statements contained herein constitute forward-looking statements. Although the company believes the statements are reasonable, it can give no assurance that such expectations will prove to be correct. The company cautions investors that any forward-looking statements made by the company are not guarantees of the future performance, and that the actual results may differ materially from those in the forward-looking statements as a result of various factors.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE SSP Offshore Inc.
For further information: For further information: L. Daniel Wilson at (403) 358-1110 (phone) or firstname.lastname@example.org