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New restructuring on the way in Norway's drilling market

Drilling company Fred. Olsen Energy needs more equity to remain solvent, writes Danske Bank Markets in an analysis.

Photo: Seadrill

A new drama could be emerging in the Norwegian oil industry just after several banks launched a comprehensive rescue plan of drilling company Seadrill, owned by Norwegian magnate John Fredriksen.

Drilling company Fred. Olsen Energy (FOE) is also plagued by debt and it is unable to settle debt expiring in 2018 and 2019, writes Danske Bank Markets in an analysis.

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