Ocean Riser Systems has joined forces with Enhanced Drilling Solutions, a division of AGR Group, to form AGR EDS-ORS. The move follows AGR’s agreement to purchase the entire shareholding in ORS, subject to financing and board approvals. The transaction was expected to complete in late August.
The new company will be headquartered at the former EDS division head office in Straume, Norway, with former ORS staff continuing to be based at its Oslo and Houston offices. Commenting on the deal, David Hine, EVP of the enlarged entity, pointed out: ‘This merger is an exciting development for both companies. AGR EDS-ORS will be at the forefront of the marketplace when it comes to providing the industry with the next generation of Dual Gradient Drilling and Managed Pressure Drilling solutions.’