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Seawell Ltd acquires Peak Well Solutions AS(Nordic Business Report Via Thomson Dialog NewsEdge) Norwegian-controlled Bermuda-registered well services provider Seawell Ltd announced on Tuesday (25 March) that it has agreed to acquire the Norwegian company Peak Well Solutions AS. The purchase price is NOK410m. Peak Well Solutions, based in Stavanger, Norway, offers products and services for the upstream offshore oil and gas industry. The company has 60 employees and is expected to achieve a turnover of over NOK200m in 2008. "This acquisition increases our ability to serve our clients, adding a new range of unique well barrier products to our line of services, enhancing Seawell's wide portfolio of specialised products and services. The acquisition is in line with our strategy to strengthening our offering to the drilling and well services segment of the oil and gas industry," said Jorgen Peter Rasmussen, executive chairman of Seawell. Seawell, managed by Seawell Management AS in Stavanger, Norway, provides well services within platform drilling, engineering and well intervention. The company has some 2,000 employees and offices in Norway, the UK and the US. Seawell's largest shareholder is Seadrill Ltd with an 80% holding. One British pound (GBP) is worth approximately 10.37 Norwegian kroner (NOK). ((Comments on this story may be sent to [email protected])) Copyright ? 2008 M2 Communications Ltd. |