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GC Rieber, StatoilHydro form new company


Published Jul 29, 2008
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GC Rieber, StatoilHydro form new company

GC Rieber Shipping ASA has entered into an agreement with StatoilHydro Venture AS and Reservoir Innovation AS to establish the holding company Hexio AS (Hexio), which has a business idea of offering technology and services related to permanent monitoring (4C/4D) of oil and gas fields in operation through the subsidiary Octio Geophysical AS (Octio). GC Rieber Shipping will also transfer the 2D/source vessel "Geo Explorer" to the new company.

GC Rieber Shipping will invest NOK 120 million in equity and will have a 60% shareholding in Hexio, while StatoilHydro Venture and Reservoir Innovation each will own 20%. Hexio will own 74% of Octio, while the remaining 26% will be held by ION Geophysical Corporation.

Tags: GC Rieber Shipping ASA, Hexio AS, Reservoir Innovation AS, StatoilHydro




   

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