STAVANGER, Norway – Grenland Group has acquired 49% of Norwegian drilling technology specialist Athene Solutions.
Stavanger-based Athene was formed last year, and has 24 staff members. The company had already been collaborating with Grenland Group on a project for Statoil.
Grenland Group has an option to buy the remaining shares after 2013.
The duo aim to increase their market share in drilling modification projects over the next few years – the acquisition also supports Grenland Group’s strategy of becoming a total EPCIC provider.