SSP Announces Agreement with Bristow to Jointly Pursue Commercialization of
the SSP HUB Logistics Platform Internationally and Agreement with Lider to
Pursue Commercialization of the SSP HUB Platform in Brazil
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.
L. Daniel Wilson, President, at (403) 358-1110 (phone); or via email
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CO: SSP Offshore Inc.
NI: OIL VNT
-0- Jan/21/2014 21:35 GMT
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