GC Rieber, StatoilHydro Form New Company to Monitor O&G Fields

GC Rieber Shipping ASA has entered into an agreement with StatoilHydro Venture AS and Reservoir Innovation AS to establish the holding company Hexio AS, which has a business idea of offering technology and services related to permanent monitoring (4C/4D) of oil and gas fields in operation through the subsidiary Octio Geophysical AS. GC Rieber Shipping will also transfer the 2D/source vessel, Geo Explorer, to the new company.

GC Rieber Shipping will invest NOK 120 million in equity and will have a 60% shareholding in Hexio, while StatoilHydro Venture and Reservoir Innovation each will own 20%. Hexio will own 74% of Octio, while the remaining 26% will be held by ION Geophysical Corporation.
 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Mudlogger - NE Region
Expertise: Mud Logging
Location: Pennsylvania, PA
 
Equipment Operator - San Antonio
Expertise: Coil Tubing|Driller|Production Operator
Location: San Antonio, TX
 
Pump Operator San Antonio
Expertise: Coil Tubing
Location: San Antonio, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours