Oil drilling venture

Sunday, 15 July, 2012, 3:10pm

Amer Ship Management, a Indian subsidiary of the British-based US$165-million Foresight group, plans to invest 1.5 billion rupees (about HK$326 million) to enhance its presence in offshore oil drilling.


Amer plans to acquire five drilling rigs over the next five years, making it the largest offshore drilling contractor in Asia. Foresight, with an operational fleet (owned and chartered) of 20 ships, is a medium-sized shipping concern and among major NRI-owned shipping concerns abroad.


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