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Keppel's Exit Of Rig Business May Have Bigger Implications For Singapore's Offshore And Marine Sector

Keppel’s Exit Of Rig Business May Have Bigger Implications For Singapore’s Offshore And Marine Sector
On Jan 28, the world’s largest rig-builder, Singapore-based Keppel Corporation surprised industry players and observers when it announced exiting away from its rig business to pivot to clean energy.
As a result of a long-awaited strategic review, Keppel’s chief executive Loh Chin Hua revealed in the group’s results briefing on Jan 28 that the group will transform its offshore and marine (O&M) unit into “a nimble, asset-light and people-light Operating Company (Op Co)”.
However, Keppel Corp’s decision to withdraw gracefully from the oil and gas sector shouldn’t have come as a great surprise to anyone. ....

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Keppel pondrá fin a la construcción de plataformas petrolíferas para centrarse en las energías renovables

Keppel pondrá fin a la construcción de plataformas petrolíferas para centrarse en las energías renovables
reporteenergia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reporteenergia.com Daily Mail and Mail on Sunday newspapers.

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Keppel O&M to Exit Rig Building Biz

Keppel O&M to Exit Rig Building Biz
Feb 1, 2021 5:19:am
Summary
Keppel O&M said the move is part of the strategic review of its offshore and marine business.
by: Shardul Sharma
Posted in:
Keppel O&M to Exit Rig Building Biz
Singapore-based Keppel Offshore & Marine (Keppel O&M) will exit the offshore rig building business, after completing the existing rigs under construction, it said on January 28.
“In line with the group’s more disciplined approach towards capital allocation, Keppel O&M will not undertake any new project requiring large upfront capex or without milestone payments. It will also progressively exit low value-adding repairs and other activities with low bottom line contribution, and focus on higher value-adding work,” it said. ....

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Commentary: Keppel's exit of rig business may have bigger implications for Singapore's offshore and marine sector

Commentary: Keppel’s exit of rig business may have bigger implications for Singapore s offshore and marine sector
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Commentary: Keppel’s exit of rig business may have bigger implications for Singapore s offshore and marine sector
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Commentary: Keppel’s exit of rig business may have bigger implications for Singapore s offshore and marine sector
The world’s largest rig-builder’s decision shouldn’t come as a surprise though, says David Kuo, as the sun has been slowly setting on a shrinking oil and gas industry.
A worker passes a vessel modified and upgraded by Keppel Shipyard. (File photo: Reuters) ....

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Keppel to exit rig-building, reduce headcount in O&M business

Keppel Corp's struggling offshore and marine (O&M) segment will exit the rig-building business and shift its focus to offshore infrastructure projects, including renewable energy.. Read more at straitstimes.com. ....

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