Singapore’s Keppel Corporation is to undertake a strategic review of its offshore and marine business. The decision is in line with its plans to unlock value from SGD 3-5 billion (about US$ 2.1-7.3 billion) of assets in the next three years
These assets include non-core assets such as Keppel Offshore & Marine’s (Keppel O&M) oil rigs. They do not include Keppel’s key business platforms and fixed assets such as Keppel O&M’s shipyards, which include Keppel AMFELS in Brownsville, Texas.
Keppel says its strategic review of its offshore & marine business will explore both organic and inorganic options.
“Organic options include reviewing the strategy and business model of Keppel O&M, assessing its current capacity and global network of yards and restructuring to seek opportunities as a developer of renewable energy assets; while inorganic options would range from strategic mergers to disposal,” says Keppel.