Nakilat-Keppel Offshore and Marine (N-KOM), a joint venture between Qatar’s premier gas shipper Nakilat and leading offshore rig constructor and ship repairer Keppel Offshore and Marine
Nakilat has reported a 9% year-on-year increase in net profit to QR236mn in the first three months of this year, aided by its acquisition of assets and volume expansion in its ship repairs.
Nakilat has established a new joint venture, Global Shipping Company, with shipping firm Maran Ventures.
Nakilat’s LPG vessels have transited through the newly expanded Panama Canal some 16 times, while its joint-venture conventional LNG vessels have completed as many as 38 transits.
Nakilat’s fleet expansion has opened a “new horizon and business avenue” for the company and help it reinforce its integral role in supporting Qatar’s industry-leading status as the world’s largest exporter of clean energy, said chairman HE Dr Mohamed bin Saleh al-Sada.
Nakilat achieved Qatarisation rate of 41%, which is among the highest in the local oil and gas industry during 2018.
Nakilat has achieved a ‘Five-star’ grading following its recent five star occupational health and safety audit conducted by the British Safety Council (BSC).
Nakilat and McDermott are establishing a 60:40 joint-venture (JV) company that provides offshore and onshore fabrication services in Qatar.
Qatar Petroleum (QP) signed three agreements worth QR9bn ($2.47bn) with leading international companies on Monday as part of QP’s ‘Tawteen’ initiative that aims to localise the energy sector’s supply chain and expand the country’s small and medium-sized enterprise (SME) base.
Nakilat on Sunday reported more than 5% year-on-year growth in net profit to QR892mn in 2018 (or QR1.61 per share).
Qatar Shipping, a subsidiary of Milaha (formerly Qatar Navigation), is acquiring another 5.9% stake in Nakilat, to effectively raise its total holding to 36.3%.