Norwegian private equity group HitecVision AS is to invest US$92.6million in Singapore-based Energy Drilling Pte Ltd.
The deal will see Hitecvision take a majority stake in the company and it will ensure delivery of Energy Drilling Pte Ltd’s two high specification tender assist barge rigs EDrill-1 and EDrill-2, in 1Q 2014 and 2Q 2014, respectively, and the semi-tender EDrill- 3 in 2Q 2015.
Energy Ventures, the founding shareholder of Energy Drilling, welcomed HitecVision's invesment.