Giving a boost to oil sector

EDB has made significant investments to develop industry-relevant R&D capabilities and talent.

THESE are challenging times for the oil and gas industry, but is there a silver lining behind the dark clouds of falling oil prices?

OSEA 2014 could not perhaps have come at a better time. For one, it serves as a timely reminder of the buoyancy of the sector.

From 2010 to 2012, the marine & offshore industry grew by 8 per cent. As at 2012, the total output reached a record high S$20.2 billion, according to data from the Singapore Economic Development Board (EDB).

"The marine and offshore sector plays a significant role in the Singapore economy and it continues to exhibit strong growth. From 2010 to 2012, the sector grew by 8 per cent," Tan Kong Hwee, deputy director of transport engineering, said...

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