Singaporean offshore services provider Kim Heng Marine & Oilfield Pte has entered into a joint venture with a Taiwanese company to create Bridgewater Marine (Taiwan) Limited.
Kim Heng Offshore & Marine, a parent company of Kim Heng Marine & Oilfield, also said its subsidiary Mazu Land & Marine Works Pte Ltd, has incorporated a branch in Taiwan called Mazu Land & Marine Works Pte. Ltd. (Taiwan Branch) (the “Branch”).
"The JVC and the Branch are intended to expand our offshore and marine business into Taiwan to support the Offshore Wind Farm (“OWF”) project by chartering vessels to customers within the Taiwan territory," said Kim Heng, which has recently decided to increasingly pivot from oil and gas towards offshore renewables to reduce the impact of oil price fluctuations on its business.
It said Friday that the setup in Taiwan would provide a marine spread and support services for the installation of horizontal directional drilling conduits by Hung Hua Construction Co. Ltd related to the submarine cable installation works for an OWF project in Taiwan, awarded to Kim Heng in February.
Hung Hua Construction is acting as subcontractor of Seaway Offshore Cables, part of the Renewables and Heavy Lifting Business Unit of Subsea 7.
Related: Kim Heng Lands Taiwan OWF Gig