Odfjell Drilling Sells Deep Sea Mooring

Odfjell Drilling has agreed to sell Deep Sea Mooring, established in 2008, to HitecVision.

DSM has been developed from an in-house mooring service provider to one of three providers of mooring services to E&P companies and rig owners in Norway. The company offers rental equipment, pre-lay mooring solutions and ancillary services and serves the market through its locations in Mongstad and Kristiansund.

Simen Lieungh, CEO of Odfjell Drilling states: “For 40 years Odfjell Drilling has been a pioneer in the offshore drilling industry with a proven track record of establishing and developing new businesses. We are proud of having developed Deep Sea mooring to a stage where it has a strong potential on a stand-alone basis. We believe in the future of the company, product and service portfolio and its competent and dedicated team of people. Under HitecVision’s ownership, Deep Sea Mooring can certainly become a potent player in the international mooring industry.”

Gunnar Halvorsen, Senior Partner of HitecVision, comments: “We are impressed by the development of Deep Sea Mooring under Odfjell’s ownership, and are pleased to have been entrusted by Odfjell to become the new owners of the company.”

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Press Release, April 18, 2013