Sembmarine, Keppel O&M in giant merger to create offshore powerhouse

Uma Devi

Published Wed, Apr 27, 2022 · 07:42 AM

SINGAPORE’s decades-long anticipated merger of home-grown offshore and marine (O&M) giants Keppel O&M and Sembcorp Marine : S51 0%(Sembmarine) is finally in the works and will create a global offshore powerhouse valued at S$8.7 billion to tap the green energy boom.

“As a home-grown marine icon with 60 years of track record, we are taking a bold step to further augment our depth and breadth of engineering and operational capabilities to create a pureplay in the offshore & marine and energy sector with enhanced focus,” said Sembmarine’s chairman Hassan Marican.

“This is a historic moment for the O&M sector in Singapore,” said Keppel Corp : BN4 0% chief executive and Keppel O&M chairman Loh Chin Hua.

The proposed yet-to-be named combined entity will have an indicative net order book of more than 50 jobs worth S$6.4 billion, of which according to William Goh, Sembmarine’s group finance director, some 25 per cent will comprise renewables and green solutions …