(EnergyAsia, July 10 2012, Tuesday) — Three years after selling off integrated oil company Singapore Petroleum Company (SPC), rig builder Keppel Corp Limited is returning to being an oil producer with the purchase of a 20% stake in upstream company KrisEnergy for US$115 million. In a statement, the world's biggest builder of offshore rigs said it made the purchase through a wholly-owned subsidiary, resulting in enlarging the share capital of KrisEnergy, an independent upstream oil and gas company established in 2009 with a diverse portfolio in Southeast Asia. KrisEnergy was previously 100% held by parent company KrisEnergy Holdings Ltd, whose major shareholder is First Reserve, a leading US-based global investment firm dedicated to the energy industry.