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Tuesday, 02 December, 2008, 21:40 GMT | more >>

Petrolia to buy Independent Oil Tools



By Upstream staff 

A subsidiary of Norway's Petrolia Drilling has signed a deal to buy Independent Oil Tools for about Nk380 million ($62.3 million).

Independent has a presence in Norway, Australia, New Zealand, Singapore and Dubai and its main areas of business include tubing, drill pipe, casing and handling equipment.

Petrolia Shashin said the purchase price is payable in cash upon completion of the deal, which is expected to be finalised before 31 December.


Friday, 08 December, 2006, 09:15 GMT  | last updated: Friday, 08 December, 2006, 09:15 GMT

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