Schlumberger Says Bought Stake In Rig Firm Borr Drilling


OSLO, March 28 (Reuters) - Schlumberger, the world's top oil services provider, has bought a stake in upstart rig operator Borr Drilling.

The investment was made through a newly created venture fund, which has the ultimate goal of securing more activity for Schlumberger, Chief Executive Paal Kibsgaard said in a statement.

He did not disclose the size of the investment and the company was not immediately available for comment.

Norwegian financial daily Finansavisen reported on Tuesday that Schlumberger had taken a 20 percent stake in Borr through a $220 million investment.

(Reporting by Terje Solsvik, editing by Gwladys Fouche)


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.