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Norwegian shipping investor buys rigs at rock-bottom prices

Norwegian shipping investor Tor Olav Trøim, the former right-hand man of shipping magnate John Fredriksen, has bought two drilling rigs for USD 130 million. The price corresponds to approximately one fourth of the rigs' original price, reports Norwegian media Finansavisen.

Seadrill jack-up rig Photo: Seadrill

Tor Olav Trøim, who in 2005 founded drilling company Seadrill together with another big-time Norwegian shipping investor, John "Big Wolf" Fredriksen, now looks ready to return to the drilling market.

With his company Magni Drilling, he has bought two jack-up rigs from US-based Hercules Offshore for a total USD 130 million, writes Norwegian media finansavisen.no.

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