Aker Drilling Establishes Cyprus Subsidiary

Aker Drilling is evaluating the future organization of the group and the company structure required to optimize operations and prepare for future developments. It is considered important that the business operates within a stable and competitive framework.

As a result, the subsidiaries Contract Co Alfa and Contract Co Beta, which are the legal owners of the group's two drilling rigs, are converted to public limited companies (ASA).

At the same time, the group is carrying out the necessary preparations for the possible establishment of a European company, an SE-company, in Cyprus by merging the two Norwegian subsidiaries and the subsidiary Aker Drilling Offshore Services Public Ltd.

The final decision on the establishment of such an SE-company will be taken at a later point, probably within the end of this year.