KrisEnergy Ltd (LON:KRIS) has signed a deal with subsidiaries of engineering and services firm Keppel Corporation for potential future work programmes.
The Keppel FELS Limited and Keppel Shipyard Ltd businesses become the preferred contractors for specified areas - including the building or repair of marine vessels and assets, as well as the lease of similar products.
“The cooperation agreement sets out a framework for the cooperation arrangement between the group and Keppel, under which contracts for any work may be awarded to Keppel on normal or better overall commercial terms and so long as this is in the best interests of the group,” KrisEnergy said in a statement.
“The entry into the cooperation agreement, and recurrent contracts for any work between the group and Keppel, will benefit the group as the group will gain access to Keppel’s experience, facilities and equipment at a competitive price.”
The proposed arrangement will require approval at an upcoming shareholder meeting, scheduled for April 26.