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CEO on past drilling mergers: "A pure catastrophe"

Odfjell Drilling is prepared to participate in a large-scale consolidation wave of the hard-strained drilling sector. But there is one major bump in the road. "The consolidation we've seen so far has been a pure catastrophe for shareholders," CEO tells ShippingWatch.

Simen Lieungh is CEO Odfjell Drilling, with harsh environment rigs operating in the North Sea and off the coast of Africa. Photo: Odfjell Drilling
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