Keppel Corporation Limited and Sembcorp Marine Ltd have entered into definitive agreements for the proposed combination of Keppel Offshore & Marine Ltd and Sembcorp Marine. The proposed combination is set to focus on offshore renewables, new energy and cleaner solutions in the offshore & marine sector.
The Proposed Combination, which follows the signing of a memorandum of understanding between Keppel and Sembcorp Marine on 24 June 2021, will bring together expert engineering capabilities, well-established track records and reputations for quality and reliability of the two companies with complementary competencies and operations. The Combined Entity will be well-positioned to capture opportunities arising from decarbonisation in the oil & gas sector and from the global energy transition towards renewables, particularly in the areas of offshore wind, and new energy sources such as hydrogen and ammonia.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/27042022/keppel-corporation-limited-and-sembcorp-marine-ltd-to-merge/