Swissco Holdings has completed the purchase of four mobile offshore drilling units, taking its total fleet up to eight.
Group chief investment officer, Kelvin Tang said: “Our expansion into the upstream continues to gain momentum with the completion of this acquisition. In a span of about two months since we acquired the rig business of Scott and English Energy Pte Ltd we have doubled our rig count.
“With our rigs deployed in Latin America, we are well-positioned to ride on the robust industry momentum as the region embarks on a new wave of oil exploration and production activities.”
The four new rigs will be deployed in Latin America and have two year contracts that are worth approximately $94.8 million.