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Oil & Gas / Asia

Keppel set to pounce on bankrupt KrisEnergy assets

Financially crippled Asia-focused upstream player KrisEnergy has finally admitted defeat and filed a winding-up petition to the Grand Court of the Cayman Islands. In response, state-backed Keppel Corporation, the largest shareholder in the Singapore-listed company, appears intent on seizing KrisEnergy’s remaining assets in Asia.
By Damon Evans
08/06/2021, 6:07 am Updated: 08/06/2021, 9:43 am
Photo of Damon Evans
© Shutterstock / Nattee ChalermtiragoolSingapore is home to Pavilion Energy
Singapore is home to Pavilion Energy

Financially crippled Asia-focused upstream player KrisEnergy has finally admitted defeat and filed a winding-up petition to the Grand Court of the Cayman Islands. In response, state-backed Keppel Corporation, the largest shareholder in the Singapore-listed company, appears intent on seizing KrisEnergy’s remaining assets in Asia.

KrisEnergy said on 4 June that it is unable to pay its debts and will proceed to liquidation.

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