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Singapore's Keppel talks merger of offshore unit with Sembcorp Marine

Oil and gas rig builders seek deal in 2022 amid growing pressure to restructure

Singapore's Keppel is one of the world's top builders of offshore rigs.   © Reuters

SINGAPORE -- Keppel wants to merge its offshore rig unit with local competitor Sembcorp Marine, the Singaporean group said Thursday, pursuing a major consolidation in a sector that has faced headwinds due to the global shift from oil and gas to cleaner energy.

The two companies have started talks for the potential merger, they said in a joint statement, stressing that discussions are at a preliminary stage.

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