Singapore’s Sembcorp Marine said the acquisition of Houston-based SSP Offshore assets is in line with the group’s strategy of diversifying its product offerings and expanding into new market segments to further grow its offshore and marine business.
The key assets of SSP Offshore include deepwater drilling and FPSO technology, logistic hub applications, and floating LNG designs.
“With this acquisition, Sembcorp Marine now owns the full range of SSP intellectual property and proprietary products of next-generation SSP floaters,” said Wong Weng Sun, president and ceo of Sembcorp Marine.
“With our strategic expansion into circular-based floaters, we are well-positioned to tap on new opportunities and expand our market share in the exploration and production, accommodation and logistics support segments within the offshore industry,” he added.
Meanwhile, Sembcorp Marine has also announced an investment of SGD711m ($562m) in phase two of its mega-yard in Singapore, including a new steel fabrication facility and additional dry docks.
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