Keppel forms Russian joint venture

Keppel forms Russian joint venture

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts