Hong Kong: Titan Petrochemicals announced that the company was notified by Guangdong Zhenrong Energy that a jv has been established by Zhenrong and Falcon Energy Group, which will be principally engaged in the owning and operation of mobile offshore drilling units and has placed a $225m construction contract for an offshore drilling unit with a leading Singapore marine company, Keppel.
The jv has indicated to the board of Titan that it intends to get the Singapore yard to proactively consider Titan’s shipyard for sub-contracting duties.
The total sub-contract amount is expected to reach $100m. [25/04/13]
