Singapore’s Keppel has announced that its wholly-owned subsidiaries, Keppel FELS Limited and Keppel Shipyard Ltd, have entered into a cooperation agreement with KrisEnergy to become its preferred contractors.
Singapore’s Keppel has announced that its wholly-owned subsidiaries, Keppel FELS Limited and Keppel Shipyard Ltd, have entered into a cooperation agreement with KrisEnergy to become its preferred contractors.
Keppel, which is a controlling shareholder of KrisEnergy, said under the agreement its wholly-owned subsidiaries will be the preferred contractor for any work related to products and/or services in relation to newbuilding, repair, conversion and upgrading of a range of marine assets and/or vessels and the use of Keppel’s yard and associated yard services for the construction and refurbishment of facilities.
In addition, the subsidiaries will be the go to companies for any leasing, chartering and the use of, or the provision of services by, Keppel’s marine assets and/or vessels.
Keppel said in a statement that the deal will be able to offer the KrisEnergy Group a comprehensive suite of offshore oil and gas solutions as the latter enhances its assets in Asia.
KrisEnergy said the cooperation agreement will allow it to gain access to Keppel's experience, facilities and equipment at a competitive price.
The deal will not have any material impact on the net tangible assets and earnings per share of Keppel for the financial year ending 31 December 2018.
Source: Pipeline ME
