Essential to building the world's fastest vehicles, Formula One technology has been sought-after by various global industries and is closely monitored by racing fans who attend the annual Singapore event, which was Asia's first-ever street circuit.
While Monza was the shortest race on the calendar in terms of time to complete, Singapore is at the opposite side of things with the longest lap time and the most corners  out of all of the circuits on the calendar.
"We are incredibly happy to announce this extension and very proud of our partnership", F1 chief executive Chase Carey said at a news conference at the racetrack.
Liberty Media had taken complete control of F1 in January, ending Bernie Ecclestones 40-year reign at the helm of affairs.
The temperature is expected to exceed 30C during the night-time race but, with 80 per cent humidity, and with their race suits on, the drivers will have to endure temperatures of about 50C in the cockpit. We have so far not got a chance to engage in depth yet, it has only been a little over half a year since the complete change in ownership, said Carey in response to a PTI query.
The Singapore GP has generated 1.4 billion in Singapore dollars (about $1 billion or 870 million euros) over the past decade.
A technical, bumpy and unforgiving circuit, the Marina Bay track has played host to several spectacular races in the past few years. During Ecclestone's tenure, contract negotiations were often hard for track owners struggling with rising costs and dwindling gates.
And the Singapore Tourism Board were also more than happy to promote their city by night.
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