Another O&M player exits Singapore for Kuala Lumpur
Following McDermott, Technip and Saipem, Subsea 7 will relocate its regional headquarters by third quarter 2016
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Singapore
IT used to be a tale of two cities with Singapore and Kuala Lumpur each competing to host regional headquarters for offshore and marine (O&M) players. But against a backdrop of persistently low oil prices, fresh concerns have emerged over Singapore's competitiveness as an O&M hub, following a decision made by a fourth top-tier international subsea contractor to ship out most of its operations to Kuala Lumpur.
A fortnight ago, Oslo and Nasdaq-listed Subsea 7 reached a decision to move its regional headquarters to Kuala Lumpur from Singapore.
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