You are here

Rival drilling tycoons betting on offshore oil-rig recovery

Wednesday, March 22, 2017 - 05:50

BT_20170322_NSDRILL22FTB9_2801899.jpg
Mr Troim's Borr Drilling Ltd, which announced its first rig deal after setting up three months ago, is now buying Transocean Ltd's entire fleet of jack-up rigs for US$1.35 billion.

Oslo

BILLIONAIRE John Fredriksen and his former top adviser Tor Olav Troim may not see eye to eye anymore, but they agree on this: It's time to buy offshore rigs again.

Foreseeing a boom in oil drilling a decade ago, the shipping tycoon and his right-hand man built one of the

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom