Looking for a specific product?

Make a search for products & suppliers, articles & news.

STX OSV Acquires Stake in Castor Drilling

STX OSV Holdings Limited, one of the major global designers and shipbuilders of offshore and specialized vessels, announced that it is strengthening its technology and engineering competence through two separate transactions.

Seaonics AS, a subsidiary of STX OSV, is in the process of acquiring a shareholding interest in Castor Drilling Solution AS (CDS). Based in Kristiansand, Norway, CDS is a newly established company with specialist competence in offshore drilling technology. The investment is expected to give STX OSV new insight into this segment of the offshore market, and give opportunities for development of integrated solutions primarily related to the growing market of Offshore Subsea Construction Vessels (OSCV). The investment, to be completed in two tranches by the end of the year, will give Seaonics a 34% stake in CDS.

Separately, STX OSV has entered into an agreement to acquire 70% shareholding interest in Brevik Partners AS. Established in 2010, Brevik Partners is an engineering company specializing in offshore technology and equipment. The investment in the company, to be renamed STX OSV Engineering Brevik, is expected to strengthen STX OSV’s ability to develop new concepts and integrated solutions for offshore and specialized vessels. The proposed transaction is expected to be closed by the end of May.

Both investments are in line with STX OSV’s strategy of increasing its technology and engineering competence in select parts of the offshore value chain. Through focused investments, STX OSV aims to strengthen its ability to develop and introduce vessels equipped with cutting-edge innovation and technology.

Associated companies:


Related news

Latest news

Eimskip strengthens its worldwide forwarding services by acquiring the logistics company SHIP-LOG A/S in Denmark

Eimskip has strengthened its position in worldwide logistics services by acquiring 75% of the freight forwarding company SHIP-LOG. 

For Sale Assets from the former BMV LAKSEVÄG YARD in Bergen, Norway!

For Sale Assets from the former BMV LAKSEVÄG YARD in Bergen, Norway! The entire shipbuilding and fabricating facility is closing and more than 500 lots is on sale.

Servogear CPP for Seasight II - Future of the Fjords

We are proud to announce that Servogear has been chosen for the delivery of Servogear...

TechnipFMC Signs Agreement with Pall to Supply Slurry Oil Filtration Systems for Fluid Catalytic Cracking Units

The associated activities will be managed by TechnipFMC Process Technology’s center in Houston,

10 Million kroner for verification funding

The Norwegian Research Council has granted 10 million...

Hilti acquires Oglaend System Group

Oglaend System’s headquarters will remain in Klepp, 

DOF Subsea AS ("DOF Subsea" or the "Company") today announces its intention to launch an initial public offering (the "IPO") of its ordinary shares and to apply for a listing on Oslo Børs

NOT FOR DISTRIBUTION OR RELEASE,

DOF Subsea North America extends charter for Jones Act Compliant vessel Harvey Deep Sea

The Harvey Deep Sea Vessel is a Multi-Purpose DPII Construction,

Untrue rumours about an on-going incident at the Halden Research Reactor in Norway

The Norwegian Radiation Protection Authority has become aware that stories about an ongoing incident involving a “meltdown” at the Norwegian Institute for Energy Technology (IFE) reactor situated in Halden are currently ci...