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Kristian Siem welcomes competition from Røkke

Two of Norway's most powerful business leaders, Kristian Siem and Kjell Inge Røkke, have both thrown themselves into the fight to restructure Norway's offshore sector. But there is room for both, says Siem after Aker-owner, Kjell Inge Røkke, bought up offshore carriers over the summer.

Photo: MPA

Norwegian business magnate Kristian Siem is not worried by the fact that his fellow countryman Kjell Inge Røkke has entered the battle for Norway's offshore carriers.

Siem, who is chairman of supplier Subsea 7, recently announced that he and the US fund  Elliot have earmarked USD 250 million to restructure the Norwegian offshore branch.

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