Keppel Offshore & Marine (Keppel O&M) has entered into a shareholders’ agreement with Russian national oil company, Rosneft, and Norwegian drilling equipment firm, MHWirth, to set up a Singapore incorporated joint venture. The shareholding of Keppel O&M, Rosneft and MHWirth in the firmwill be 45%, 45% and 10% respectively.
The new company will establish a wholly-owned design and engineering centre in the Russian Federation, and its principal business activities will be in relation to the design and engineering of mobile offshore drilling units (MODUs) for shallow waters to cater to the region.