Singapore-based oil and gas module builder Dyna-Mac has entered into a memorandum of understanding with Keppel Shipyard, a subsidiary of rig builder Keppel Offshore & Marine.
Under the agreement, the two companies will explore potential business relationships and opportunities on a non-exclusive basis "based on the strengths, competitiveness, and experience in the respective relevant sectors to mutually benefit each other and cooperate in each other’s core
businesses in the marine and offshore industry."
Dyna-Mac, which specializes in the construction of topsides for offshore oil and gas platforms and FPSOs, said Wednesday that the MoU would be valid for five years and may be further renewed on mutual consent, but could also be terminated earlier "on certain prescribed grounds."