An improving offshore industry and asset plays are set to be two of the key drivers in Keppel Corp’s improved performance, a local analyst has predicted.
“We believe Keppel’s offshore and marine (O&M) division saw its worse in 2018,” said RHB oil and gas analyst Leng Seng Choon.
He expects Keppel’s orderbook replenishment to be ramped up in 2019, driven by FPSO conversion jobs from higher project sanctions – especially in Brazil and Mexico – expected as oil prices stabilise.
