Transocean, the world’s top oil drilling contractor, is paying double the market price for Aker Drilling to refresh its ageing fleet of Norwegian drilling rigs and boost flagging orders.

Transocean, the owner and operator of the Deepwater Horizon rig at the centre of last year’s US Gulf oil spill disaster, is paying $1.43 billion, or 26.50 crowns per Aker Drilling share, a 98.5 per cent premium to Fridays close and 62 per cent above its 30-day average price. – (Reuters)