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Media: Maersk looks to Norway in search of new Drilling partnership

Players with insight into the drilling industry have told Danish media Børsen that at the end of 2017 Maersk was in talks with leading companies Aker ASA, Odfjell Drilling and Borr Drilling regarding a partnership with Maersk Drilling.

Photo: Maersk Drilling

Maersk has been hunting for a possible partner for Maersk Drilling in the Norwegian oil industry. Several players with insight into the drilling industry have told the Danish business daily Børsen that at the end of 2017, Maersk was in talks with leading companies Aker Asa, Odfjell Drilling and Borr Drilling.

Tuesday, it emerged from another media Berlingske Business that Maersk was considering transferring ownership of Maersk Drilling to A.P. Møller Holding, which owns a large share of the conglomerate's activities within transport and logistics.

The aim is to create a business where the company is in a strong position within the oil industry, which is headed towards a brighter future as the oil price rises. Some observers thus predict that Maersk Drilling will likely become part of a joint venture with a third party.

"Maersk Drilling is of a size where it is difficult to find anyone who can take over the company, simply because it requires too much money. Therefore, it is more likely that you enter a partnership where some buy up to half of the company," Stefan Panduro, vice president of Bassoe Offshore, a drilling broker, tells Børsen.

Bassoe Offshore predicts that the total value of Maersk Drilling's rigs lie close to DKK 21 billion (USD 3.4 billion) - DKK 21.5 billlion.

English Edit: Lena Rutkowski

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