Odfjell Drilling replaces Seadrill as rig manager for Northern Ocean

John Fredriksen’s Northern Ocean has reached an agreement with Odfjell Drilling for the management of two of its rigs, made changes to the management team, and moved to improve liquidity in an effort to position itself for the expected recovery … Read More

John Fredriksen firm takes interest in Valaris

Norwegian billionaire John Fredriksen’s Seatankers Group has acquired an interest in Seadrill’s rival offshore drilling contractor Valaris. Namely, Famatown Finance, a company indirectly controlled by trusts settled by John Fredriksen and a member of the Seatankers Group, has accumulated through … Read More