Singapore rig builder Keppel to exit oil sector

摘要

The world’s largest builder of ofshore oil rigs, Singapore-based Keppel, is pulling out of the sector to focus its investment on cleaner energy. The frm plans a comprehensive overhaul of its ofshore and marine (O&M) business because of the energy transition and major disruption in the oil industry. Keppel O&M will end ofshore rig-building after completing its current orders, and will not undertake new projects requiring large upfront spending or without milestone payments.