Dyna-Mac signed a memorandum of understanding with Keppel Shipyard

Singapore-based oil and gas module builder Dyna-Mac and drilling platform builder Keppel Offshore have reached a memorandum of understanding with the subsidiary Keppel Shipyard of Marine Corporation.

According to this agreement, the two companies will explore potential business relationships and cooperation opportunities on a non-exclusive basis. The two parties will "based on their respective advantages, competitiveness and experience in related fields, with a view to mutual benefit and cooperation in the core areas of the shipping and offshore industries".

Dyna-Mac is a professional construction company specializing in offshore oil and gas platforms and floating production and offloading vessel (FPSO) boarding structures. The company said on Wednesday that the memorandum of understanding is valid for five years, and the agreement may be renewed if both parties agree; however, it may also be terminated early under "certain specific circumstances."