Singapore’s Minister for Trade and Industry has today launched a US$280 million (S$400 million), five year development of the country’s offshore petroleum services facility, declaring it will “further enhance” the nation as a leading oil and gas centre “next to Houston and Aberdeen.”
Minister of State Lee Yi Shyan ceremonially “broke the ground” at the Loyang Offshore base using a gold shovel. In a speech to invited industry heads at the newly named TOPS (Toll’s Offshore Petroleum Services, formerly known as SOPS) offshore service facility, he said: “We want to work with our world class shipyards, companies offering complex oil and gas systems and offshore-related services to build new capabilities.
“We want to encourage them to undertake a wider range of activities, encompassing manufacturing, headquarter services, training, research and development, engineering and regional distribution.”
Hallin Marine is leading the move to the new complex, already committing to a new, purpose built 8,000 square metre waterside centre for its Eastern Operations Division, and expects to move to the facility in 18 months time.
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