Singapore offshore entities agree on merger
Singapore Keppel O&M is to pay USD 363 million to Keppel Corporation for 56% of shares in the created entity, with Sembcorp Marine holding the remaining stake.
The combination framework agreement is meant to solidify Singapore as a maritime and offshore hub in the development of renewables and the energy transition.
The merger is expected to be completed by the end of 2022 and is subject to regulatory approvals.
The deal was previously delayed at the beginning of April 2022.
Recent Posts
Seatrium wins MODEC contract for Guyana-bound FPSO
Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More
UK allows oil exploration in North Sea wind project zones
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil closes acquisition of Pioneer, creating Permian powerhouse
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy enters Namibia’s Orange Basin
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Chariot starts gas drilling campaign in Morocco
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone acquires Trinidad E&P player Trinity
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More