SEMBCORP Marine subsidiary Jurong Shipyard has acquired the business assets of Houston-based company SSP Offshore for US$21 million, the company has announced.

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 (SSP) solutions, including the SSP Driller for deepwater drilling, the SSP Hub for logistic hub applications and the SSP Plus floating production, storage and offloading vessel.

The SSP base design can also be further modified for floating, drilling, production, storage and offloading (FDPSO), floating LNG, well test and early production applications as well as customised for region-specific operating requirements, harsh environments and arctic conditions.

Designed for operational stability, superior motion performance and improved safety, SSP floaters are built for robust operation and can be permanently moored on location during extreme or harsh sea conditions.

Unlike conventional ship-shape FPSOs, the unique circular hull design offers significant advantages and fabrication flexibility as it can be built using simple block construction methods without the need for a graving dock, Jurong said.

In addition, the SSP floater eliminates the need for turret, swivel or CALM buoy facilities for production and storage operations or offloading, translating to cost savings for customers.

Sembmarine chief executive Wong Weng Sun said the acquisition would sharpen the company’s technological capabilities and enable it to offer a suite of innovative solutions to cater to its customers’ diverse operating requirements.