With the new hub, the company seeks to become an integrated solutions provider, while playing an instrumental role in boosting the Republic's marine and offshore industries.

 

To meet the growing capital equipment, drilling services and rig management needs, KS Energy Group launched its integrated energy services hub in Singapore. KS Energy is a leading integrated oilfield supply and services provider to the global oil and gas, marine and petrochemical industries.

Located at Jurong Port Road, the hub will provide an integrated suite of services comprising drilling and rig management services, capital equipment charter, distribution of parts and components and technical resources to the oil and gas, petrochemical and marine industries. Currently KS Energy's rigs and drilling teams are operating in the North Sea, the Mediterranean Sea, West Africa, the Indian Subcontinent, China and the Gulf of Mexico.

In September this year, a new wholly-owned subsidiary, KS Energy Technical Resources Pte Ltd (KSTR), was established to provide and train human resources and deliver other technical services to the oil and gas and petrochemical industries. To get the ball rolling, KSTR acquired Amsterdam-based specialist upstream human resource provider and training company, Selective Manpower Services BV (SMS) Group, for S$6 million (US$4.1 million). SMS boasts a team of some 300 consultants with extensive experience and knowledge of the oil and gas industry, as well as a solid operational structure. Its customer base comprises mainly major oil and gas drilling operators and contractors.

Says Kris Wiluan, Chairman and CEO, KS Energy Services Limited, "With the surge in oil and gas exploration, we now have the ability to develop specialised human resources for the industry by recruiting and training people for field operations with this new venture."

Besides its new integrated energy services hub, KS Energy announced its first foray into renewable energy. Under a S$64.1 million (US$43.9 million) deal, a lift boat jointly owned by KS Energy and its partner has been leased to Siemens Wind Power till December 2010. The KS Titan-1 vessel is self-propelled and equipped with two cranes. It will be used in the installation and maintenance of wind farms in the North Sea.

Vote of Confidence

The establishment of KS Energy's integrated services hub in Singapore affirms the significance of the Republic's oil and gas industries, and the range of its marine and offshore capabilities, says S Iswaran, Singapore's Senior Minister of State for Trade and Industry.

Riding on the strong growth of the offshore oil and gas sectors, Singapore's marine and offshore industries have, in recent years, recorded impressive performances. Last year, the sector achieved an output of S$12.8 billion (US$8.8 billion), a huge 27 per cent growth over 2006.

"Over the last three decades, Singapore's shipyards have gained prominence for quality, specialised services, timely delivery, a skilled and disciplined workforce, and strong project management capabilities," adds Iswaran.

Besides being one of the world's premier ship repair and conversion centres, Singapore is a global leader in the building of jack-up rigs and the conversion of Floating Production Storage and Offloading Platforms (FPSO) units.

Today, besides being one of the world's premier ship repair and conversion centres, the country is a global leader in the building of jack-up rigs and the conversion of Floating Production Storage and Offloading Platforms (FPSO) units. It is also the largest manufacturer of offshore oil rigs, with a 70 per cent market share.

Growth and Greater Demand

With total employment in the sector currently hitting 66,000, a higher level of business activity in the sector will only result in a higher demand for workers. Together with the emphasis on knowledge-, capital- and innovation-intensive activities, the need for well-trained talent is crucial.

To this end, Singapore's marine and offshore industries are committed to enhancing the knowledge and skills of its workforce through training programmes. This includes apprenticeship schemes, on-the-job training, classroom-based training and scholarships for higher studies and overseas attachment schemes. In addition, Singapore's dynamic educational institutions play a key role in developing talent and grooming potential leaders for the industry.

Looking ahead, Singapore's aspirations to be a world-class integrated marine and offshore hub means that the industry will need to continue to position itself as a global centre for ship conversion, offshore construction and oilfield services.

Says Iswaran, "The industry should leverage on its achievements and focus on more complex and high value projects to enhance its capability as a solutions provider. The opening of KS Energy Services' Integrated Energy Services Hub is yet another step in that direction. The close association between the company and Singapore will serve to bring the industry to new heights."