Keppel offloads interest in Vietnam drilling venture

Singapore: Keppel Corporation has announced that its wholly-owned subsidiary, Joy Pride Investments, has disposed of its 35% shareholding interest PV Drilling Overseas Company (PVDO) to PetroVietnam Drilling and Well Service Corporation and Overseas Drilling Holdings for $350m.

Joy Pride Investment acquired the equity of PVDO in July 2013, from Falcon Energy Group at the same price.

PVDO's principal activities are to invest, own and charter oil rigs, and provide drilling services and associated services to clients. [25/08/14]

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