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.
Operates 29 Offshore Rigs
- Samsung Heavy Industries Lands Statoil FSU Construction Contract (Sep 14)
- First Movers in Eco-Drilling: Going 'Dope'-less (Apr 25)
- StatoilHydro Delays Hammerfest LNG Start Up (Nov 23)