Keppel Offshore & Marine is a company operating in offshore rig design, construction and repair, ship repair and conversion, and specialized shipbuilding. The company possesses 20 yards and offices worldwide.
Keppel Offshore & Marine (Keppel O&M) has established its foothold in Azerbaijan with the setup of Caspian Shipyard Company and Baku Shipyard which was formed in Baku in 1997, through a landmark partnership between Keppel FELS, State Oil Company of Azerbaijan Republic (SOCAR), and Azerbaijan Investment Company (AIC).
A new shipbuilding yard that is jointly developed by Keppel O&M, SOCAR and AIC was officially opened in September 2013. Named Baku Shipyard the new 62-ha yard in Baku is designed to undertake the construction of a wide range of specialised vessels and merchant ships.
Phase 1 of the yard was built at an estimated cost of US$470 million. When operating at full capacity, it is able to undertake up to 100 repairs and conversions per annum and is estimated to achieve an average annual steel output of 25,000 tons. Plans for Phase 2 include the construction of a graving dock with added facilities for offshore projects.
“The inauguration of Baku Shipyard signals the opening of a new and additional chapter in the long-standing partnership between SOCAR and Keppel O&M. Our participation in the yard demonstrates our commitment to be a long-term solutions provider for Azerbaijan. From our years of cooperation with SOCAR in CSC, we have accumulated a rich reservoir of technical know-how as well as meaningful market insights and networks to operate a first-class shipyard. SOCAR and Keppel O&M will continue to leverage our collective strengths to achieve new successes through our partnership in the Baku Shipyard” says Mr. Tong Chong Heong, CEO of Keppel O&M.