Rig purchase gives KCA Deutag edge in the North Sea

KCA Deutag, part of the Abbot Group, is building up its Norwegian rig muscle after buying ProSafe's platform drilling unit for Nkr960 million ($146 million), writes Knut Evensen.

7 July 2005 23:01 GMT Updated 7 July 2005 23:01 GMT

The acquisition will give KCA the largest platform drilling operator in the UK a leading position with a Norwegian platform drilling market share of about 30%. KCA Deutag will also get its hands on the only light modular rig operating in the North Sea.

For Prosafe, the sale will free up cash to pump into its floating production and offshore support services divisions.

Among

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Rig purchase gives KCA Deutag edge in the North Sea