Caspian Shipyard Company Liquidated

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Singapore Shipbuilding Corporation Keppel on its website announced the voluntary liquidation of Caspian Shipyard Company (CSC) LLC in Azerbaijan.

“Keppel Corporation Limited announces that its subsidiary Caspian Shipyard Company LLC has started voluntary liquidation after the expiration of the agreement on the establishment of the LLC dated August 26, 1997, concluded between Azer FELS Pte Ltd (a subsidiary of Keppel Offshore & Marine Ltd), SOCAR and Lukoil Europe Holdings BV,” the Singapore company said in a statement.

The shareholders decided not to extend the agreement on Caspian Shipyard Company activities.

Recall that in the Caspian Shipyard Company, Azer FELS Ltd owned a 75% stake, while 20% belonged to SOCAR and 5% – to Lukoil. The company built the new Heydar Aliyev semi-submersible drilling rig and the Transocean Gurtulush rig.

At the same time, Keppel specified that it will continue its activity in Azerbaijan within the framework of a 10% stake in LLC Baku Shipbuilding Plant (SOCAR share in it is 65%, the rest is with the Azerbaijan Investment Company (AIC).

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