Singapore's offshore services firm Kim Heng has via its subsidiary, Kim Heng Offshore & Marine Pte entered into a non-binding memorandum of understanding with South Korea's KOMS CO. LTD. (“KOM”).
Under the MoU the two companies plan to cooperate in the space if offshore wind farm projects and other offshore projects in South Korea.
The MOU will remain in force for a period of five years, and is subject to renewal by mutual agreement.
Each party may terminate this MOU by providing thirty days’ notice to the other party.
"KOM is a leading offshore global solution provider, offering engineering, procurement and Commissioning (EPC) services including but not limited to offshore field development, pipe laying, subsea structure, transport & installation, modifications, upgrades, operation, maintenance, decommissioning and removals of rigs. The company will provide the necessary updates as and when there are material developments to the
MOU and/or execution of a definitive agreement," Kim Heng said.