KrisEnergy

As at Dec 31, about US$185 million ($245.0 million) in outstanding principal is owed by KrisEnergy under the DBS RCF.

Keppel Corporation says it “hopes to see a successful conclusion to the financial restructuring in the next few months”.

“From first steel cutting to sail away has been nine months and this landmark is made all the more remarkable given the difficulties and restrictions our project team and our NOV Profab colleagues have faced since early 2020," says CEO Kelvin Tang.

KrisEnergy, the upstream oil & gas (O&G) company undergoing restructuring, says it will not be able to make payments of its due financial obligations.

SINGAPORE (July 15): On June 19, KrisEnergy put up some proposals for discussion with its creditors. These creditors are DBS Bank which has provided the company with a revolving credit facility (RCF), Keppel Corp, through Zero Coupon Notes (ZCN), notehold

The date, which was originally slated for July 15, a week from now, will now be extended to September 30.

In response to SGX queries on Wednesday (June 3), KrisEnergy says that it is “confident” that the company’s major stakeholders will continue to support the company.

SINGAPORE (Nov 19): KrisEnergy, the upstream oil & gas (O&G) company undergoing restructuring, has revealed it is selling its stake in an offshore oil & gas project to energy giant BP.

SINGAPORE (Sept 24): The Securities Investors Association (Singapore) has admitted that it made an “administrative error”, which resulted in questions posted on online Q&A platform Pigeonhole going unaddressed at a Sept 10 KrisEnergy investor meeting.

(Sept 23): Like many oil and gas companies, KrisEnergy has been severely affected by the prolonged slump in oil prices over the past five years. Both exploration and production have become riskier undertakings. The company, which has been in the red since