Keppel’s Exit Of Rig Business May Have Bigger Implications For Singapore’s Offshore And Marine Sector On Jan 28, the world’s largest rig-builder, Singapore-based Keppel Corporation surprised industry players and observers when it announced exiting away from its rig business to pivot to clean energy. As a result of a long-awaited strategic review, Keppel’s chief executive Loh Chin Hua revealed in the group’s results briefing on Jan 28 that the group will transform its offshore and marine (O&M) unit into “a nimble, asset-light and people-light Operating Company (Op Co)”. However, Keppel Corp’s decision to withdraw gracefully from the oil and gas sector shouldn’t have come as a great surprise to anyone.