The company said in a stock market announcement that its wholly-owned subsidiaries, Keppel FELS and Keppel Shipyard had entered into a cooperation agreement with KrisEnergy where Keppel would be its preferred contractor for any work related to various products and/or services.
The scope encompasses 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, including but not limited to mobile offshore production units (MOPU), mobile offshore drilling units (MODU), production barges, floating production and storage units (FPSO) and floating storage offloading (FSO).
The deal also includes an operational element, covering the lease, chartering and use of, or provision of services by Keppel’s marine assets and/or vessels, including but not limited to MOPU, MODU, FPSO, FSO, floating cranes, barges and tugs.
“As the preferred contractor under the cooperation agreement, Keppel 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. The KrisEnergy Group will be able to leverage Keppel’s experience, execution expertise and network of yards to customise solutions that will give the KrisEnergy Group a competitive edge in offshore exploration and production,” Keppel said.
Separately, KrisEnergy said: “The entry into the cooperation agreement, and recurrent contracts for any work between the group and Keppel, will benefit the group as the group will gain access to Keppel’s experience, facilities and equipment at a competitive price. This will in turn give the group a competitive edge in specialised areas where Keppel is able to provide services to the group.”
Keppel became a majority shareholder of KrisEnergy in 2016 when it raised its stake to 67%.
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