This follows a strategic review by Keppel O&M designed to rationalize its global network of yards.
The company stresses that it continues to see opportunities in the offshore oil and gas market in Europe and the North Sea, but plans to service these markets through its network of yards in Singapore and elsewhere.
Keppel Verolme has around 250 employees. Damen intends to retain these staff and continue the yard’s activities.
The parties will work toward finalizing definitive agreements, and aim to close the transaction by mid-year.