Fredriksen seeks Southeast Asia investment

Norwegian shipping magnate John Fredriksen is looking to invest in Southeast Asian companies, having taken a 33% stake in Indonesia rig operator PT Apexindo Pratama Duta Tbk.

Offshore staff

KUALA LUMPUR, Malaysia -- Norwegian shipping magnate John Fredriksen is looking to invest in Southeast Asian companies, having taken a 33% stake in Indonesia rig operator PT Apexindo Pratama Duta Tbk.

Fredriksen's Seadrill Ltd. reportedly plans to increase its stake in Malaysia's SapuraCrest Petroleum Bhd. to 20% from 11.27%. Seadrill says it is attracted by the company's growing upstream service assets, which include drilling rigs, survey vessels, diving support vessels, work boats, remotely operated vehicles, and a new heavy lift vessel,Sapura 3000.

6/28/2007

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