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June 8, 2021updated 09 Jun 2021 5:56am

Stena Drilling acquires stake in offshore lifting technology firm Intebloc

The deal is expected to help Intebloc accelerate its product development strategy.

By Archana Rani

Drilling contractor Stena Drilling has acquired a 30% stake in digital offshore lifting technology company Intebloc for an undisclosed sum.

Intebloc provides intelligent crane and lifting technology to improve the safety and productivity of offshore lifting operations.

The deal is expected to help Intebloc accelerate its product development strategy.

This investment will also allow Intebloc to diversify into construction, renewables and the marine sector.

Stena Drilling digital business transformation manager Colin Dawson said that the firm identified exponential technologies that could speed up its aim of delivering sustainable, digitally empowered service.

Dawson added: “Intebloc is one of those; its innovation culture and technology roadmap are the reasons why we believe that they can deliver significant improvements in lifting practices not only in upstream oil and gas, but across the entire lifting market.”

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The deal follows the early adoption of Intebloc’s Rig-Ware solution by Stena Drilling for managing and tracking lifting equipment.

Initially, the system was trialled on many assets of Stena Drilling and is now being deployed by its complete fleet to boost offshore safety, cut down the risk of lifting equipment failures, and allow informed decision making.

Stena Drilling CEO Erik Ronsberg said: “Our work with the Intebloc team over the last two years has driven our excitement and belief in the transformational potential of their technology. We believe that this investment will deliver significant synergies to both parties and I foresee an exciting future working together.”

Stena Drilling currently owns four ultra-deepwater drillships as well as two semisub midwater drilling rigs.

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