Schlumberger Says Bought Stake In Rig Firm Borr Drilling

Reuters

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)



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