The Foreign Investment Review Board has approved Singapore's $1.1 billion bid to acquire ASX-listed MMA Offshore, a major player in the State's oil and gas industry.

With 1,100 staff globally, MMA is expanding into offshore wind and defence sectors.

The deal with Cyan Renewables, a Singaporean firm established in 2022, will more than double MMA's vessel fleet, supporting its growth in offshore wind farm services.