Shandong Offshore International, a Chinese firm, has acquired Northern Offshore, a US Houston based offshore drilling company for $165 million.
Founded in 2000, Northern Offshore is based in Houston and listed on the Oslo Stock Exchange in 2007. It currently owns four drilling units and one floating production unit. Shandong Offshore is based in Qingdao, China, according to reports, and its Blue Ocean Drilling subsidiary is based in Houston.
To see a list of investors from China similar to Shandong Offshore International, check the Chinese Investors Directory.
More details follows