Higher earnings from the offshore marine sector helped boost the third-quarter results of Singapore's Keppel Corp, Seatrade Asia online reports. The rig builder achieved a 36.1% rise in third-quarter net profit to S$460.4m ($361.5) compared to S$338.3m in the same period of last year.
Revenue also rose 18.1% to S$2.7bn in the quarter compared to S$2.3bn a year ago, the company announced on Thursday.
“Our offshore and marine business has secured S$8.7bn of new orders to date. This is a new record for Keppel (...),” said Choo Chiau Beng, ceo of Keppel Corp.
“Drilling in the North Sea has been revitalised by new major oil finds, and the Gulf of Mexico is returning gradually to normalcy with the issue of permits. Coupled with little spare production capacity, industry analysts have projected that spending on exploration and production will rise in the coming years,” Choo said.
Revenue also rose 18.1% to S$2.7bn in the quarter compared to S$2.3bn a year ago, the company announced on Thursday.
“Our offshore and marine business has secured S$8.7bn of new orders to date. This is a new record for Keppel (...),” said Choo Chiau Beng, ceo of Keppel Corp.
“Drilling in the North Sea has been revitalised by new major oil finds, and the Gulf of Mexico is returning gradually to normalcy with the issue of permits. Coupled with little spare production capacity, industry analysts have projected that spending on exploration and production will rise in the coming years,” Choo said.
