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Aziz Merchant, Executive Director of Keppel Offshore & Marine Technology Centre (KOMtech)

Q: How is Keppel innovating to meet these challenges?

A: “Innovation has always been a part of Keppel’s DNA – our focus on Research & Development (R&D) and commercialisation have yielded world-leading proprietary technology and processes. The environment we operate in is increasingly complex with change occurring at an unprecedented speed.”

“New technologies and business models are evolving rapidly, disrupting and impacting industries in myriad ways across the world. Businesses must constantly adapt to market trends to stay relevant and push ahead of competitors. Keppel continues to invest in technology and innovation to maximise its value proposition and stay ahead of the competition.”

Q: Current fleet utilisation and day rates of oil and gas drilling vessels are very low. Is there still a market for new built platforms?

A: “The industry is back to being competitive by significantly cutting costs, improving efficiencies and tightening up the supply chain. Older rigs continue to be scrapped and it will take some time before there is an equilibrium between supply and demand. Oil companies and fleet

operators will always prefer newer, higher specification rigs that are safer while remaining cost-efficient.”

Q: In 2015, a serious accident happened with a deepwater drilling rig in the North Sea, which was struck by a steep wave,

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