The offshore drilling industry in the Nordics focuses on extracting oil and gas from beneath the sea. Major companies in this sector range from established names like Equinor to innovative technology firms. They provide essential services such as exploration, drilling, and support for production operations. Recently, there has been a noticeable shift towards sustainable practices, as firms aim to balance energy demands with environmental responsibility. Interesting developments include advancements in subsea technology and increasing investments in renewable energy solutions, indicating that the Nordic offshore drilling market not only aims for efficiency but also seeks to adapt to a changing energy landscape.

In this curated list, you'll find a mix of private equity firms, corporate investors, and venture capitalists. These investors are headquartered in cities like Stavanger, Oslo, Stockholm, and Helsinki, with firm sizes ranging from small teams to thousands of employees. Founded between 1841 and 2008, they demonstrate varied strategies and interests. Collectively, they executed 56 deals in 2024, highlighting an active engagement in supporting the offshore drilling sector.

Top 14 Offshore Drilling Investors in the Nordics

1. HitecVision

• Website: hitecvision.com
• Type: Private Equity
• Headquarters: Stavanger, Rogaland, Norway
• Founded year: 1985
• Headcount: 51-200
• LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Norway, founded in 1985. The firm specializes in the European energy sector, focusing on providing institutional capital to energy production and infrastructure projects with an emphasis on sustainability and the energy transition. HitecVision manages private equity funds and collaborates with various stakeholders to drive growth in both traditional and renewable energy sectors. Notably, HitecVision has made significant investments in the offshore drilling context, including the acquisition of Atlantica Tender Drilling in 2011, which operates in the offshore drilling sector. Additionally, they acquired Deep Sea Mooring AS in 2013, a company specializing in mooring solutions for offshore operations. These transactions highlight HitecVision's active role in the offshore drilling industry, alongside their broader investment strategy in energy.

2. EV Private Equity

• Website: evprivateequity.no
• Type: Private Equity
• Headquarters: Stavanger, Rogaland, Norway
• Founded year: 2002
• Headcount: 11-50
• LinkedIn: evprivateequity

EV Private Equity is an investment firm based in Stavanger, Rogaland, Norway, specializing in energy technology and sustainable investments. Founded in 2002, the firm partners with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. They are recognized for their responsible investment practices, positioning them as leaders in the transition to a sustainable energy future. Notably, EV Private Equity has been involved in several transactions relevant to the offshore drilling industry, including the acquisition of Enhanced Drilling in 2019 and a significant investment in Aquaterra Energy, which provides riser systems and offshore structures to the global oil and gas industry. These transactions highlight their commitment to supporting companies that operate within the offshore drilling space, despite their broader focus on sustainable energy solutions.

3. Equinor

• Website: equinor.com
• Type: Corporate
• Headquarters: Stavanger, Rogaland, Norway
• Founded year: 1972
• Headcount: 10001+
• Number of deals in 2024: 6
• LinkedIn: equinor

Equinor ASA, founded in 1972 and headquartered in Stavanger, Norway, is a public entity operating in the energy sector with a strong focus on oil, gas, and renewable energy. The company is committed to sustainability and aims to achieve net-zero emissions by 2050. Equinor serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. In recent years, Equinor has made several strategic investments relevant to the offshore drilling context. For instance, they led an equity investment in Upwing Energy to accelerate the development of downhole gas compressors, which are crucial for enhancing drilling efficiency. Additionally, their acquisition of a 10% stake in Ørsted, valued at $2.3 billion, reflects their strategic positioning in the energy market, although Ørsted is primarily focused on renewable energy. These transactions highlight Equinor's active role in the energy sector, including offshore drilling technologies and solutions.

4. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Among their notable transactions, EQT acquired Aker Solutions in December 2013 for approximately $663 million, a key player in the offshore oil and gas sector. Additionally, in October 2012, EQT Infra acquired Tampnet for €202 million, a company known for operating the largest offshore high-capacity communication network, further solidifying their presence in the offshore industry. These strategic acquisitions reflect EQT's commitment to investing in sectors that support and enhance offshore drilling operations.

5. Ferd AS

• Website: ferd.no
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1998
• Headcount: 51-200
• LinkedIn: ferd-as

Ferd AS is a private equity investment company based in Oslo, Norway, founded in 1998. The firm focuses on creating lasting value through diverse business activities, including investment management, real estate development, and support for social entrepreneurs. Ferd AS has been involved in several significant transactions in the offshore energy sector, including a notable investment in Petroleum Geo-Services, which raised funds through post-IPO equity in 2015. Additionally, Ferd jointly acquired Aibel, a company specializing in offshore wind and energy services, for approximately 1.5 billion NOK in 2012. This acquisition highlights Ferd's commitment to the offshore energy market. Furthermore, Ferd has invested in General Oceans, an ocean technology group, which aligns with their strategy to enhance their portfolio in the offshore sector. These transactions demonstrate Ferd AS's active engagement in the offshore drilling and energy industries, making them a relevant investor in this space.

6. Norvestor

• Website: norvestor.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1989
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability and operational efficiency across various sectors, including IT services and property maintenance. Notably, Norvestor has made significant investments in the oil and gas sector, acquiring companies such as iSURVEY, Future Production AS, Read Cased Hole, and Presserv AS. These acquisitions highlight Norvestor's commitment to enhancing operational capabilities within the offshore drilling industry, particularly through services that support drilling operations and maintenance.

7. Investinor

• Website: investinor.no
• Type: Venture Capital
• Headquarters: Trondheim, Trøndelag, Norway
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Trøndelag, Norway, founded in 2008. It specializes in providing funding to promising startups and companies, helping them grow and achieve market leadership. Investinor manages state interests in seed and venture funds and collaborates with entrepreneurs and other investors. Among its notable transactions, Investinor has invested in Ace Oil Tools and Well Conveyor, both of which are involved in the oil and gas sector. Additionally, it participated in funding rounds for Zilift Limited, a UK-based provider of artificial lift solutions for the oil and gas industry, and Ziebel AS, a Norwegian oil services company. These investments highlight Investinor's engagement with companies that have direct relevance to offshore drilling operations, reinforcing its position as a player in the oil and gas investment landscape.

8. Aker Solutions

• Website: akersolutions.com
• Type: Corporate
• Headquarters: Fornebu, Akershus, Norway
• Founded year: 1841
• Headcount: 10001+
• Number of deals in 2024: 1
• LinkedIn: aker-solutions

Aker Solutions ASA is an engineering firm based in Fornebu, Akershus, Norway, specializing in energy infrastructure. Founded in 1841, the company has a workforce of over 10,000 employees and operates globally, providing integrated solutions and services for low-carbon oil and gas production, as well as renewable energy projects. Aker Solutions has been actively involved in the offshore drilling sector through various acquisitions aimed at enhancing their service offerings. Notable transactions include the acquisition of Subsea House and SSH Engineering in 2012, which aimed to bolster their subsea capabilities, and the acquisition of Reinertsen in 2017, which further strengthened their position in the oil and gas sector. In 2019, they acquired Principle Power, a company focused on floating wind technology, indicating their interest in innovative solutions that can complement offshore operations. Additionally, their acquisition of Enovate Systems Ltd. in 2013, specializing in subsea well control equipment, underscores their commitment to enhancing safety and efficiency in offshore drilling. Aker Solutions continues to pursue growth in the offshore sector, as evidenced by their recent acquisition of Unitech Power Systems in 2022, which aligns with their strategy to expand their engineering capabilities in energy infrastructure.

9. Altor Equity Partners

• Website: altor.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 51-200
• Number of deals in 2024: 6
• LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services and tailored investment strategies across various sectors, including technology and consumer products. Notably, Altor has made significant investments in the offshore drilling and oil services industry, including the acquisition of Enhanced Drilling in 2013 and a majority stake in AGR AS, a Norwegian technology-based oil services company, in 2004. These investments reflect Altor's commitment to enhancing operational efficiency and sustainable growth in the offshore drilling sector, alongside their broader investment portfolio that includes companies in renewable energy and other industries.

10. Addtech AB

• Website: addtech.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1906
• Headcount: 1001-5000
• Number of deals in 2024: 9
• LinkedIn: addtech-ab

Addtech AB is a technology solutions provider based in Stockholm, Sweden, specializing in high-tech products and services across various sectors, including automation, electrification, energy, industrial solutions, and process technology. Founded in 1906, Addtech serves OEM manufacturers and end-users, enhancing operational efficiency and sustainability through innovative solutions. Notably, in 2023, Addtech acquired a 90% stake in Feritech Global, a company focused on technical solutions for the geotechnical subsea sector, which aligns with offshore drilling activities. Additionally, Addtech's acquisition of Control Cutter AS, a Norwegian company, further emphasizes its commitment to expanding its capabilities in the offshore sector. These transactions highlight Addtech's strategic interest in technologies that support offshore operations, making it a relevant player in the offshore drilling industry.

11. Fearnley Securities

• Website: fearnleysecurities.no
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1869
• Headcount: 51-200
• LinkedIn: ?originalSubdomain=in

Fearnley Securities AS is a financial services company based in Oslo, Norway, founded in 1869. The firm specializes in investment banking, equity and credit research, and project finance, serving both public and private companies primarily in the maritime, offshore, and energy sectors. Fearnley Securities provides expert advisory and transaction execution to help clients navigate growth and capitalize on market opportunities. In recent years, they have been involved in several transactions relevant to the offshore drilling context, including funding rounds for SeaBird Exploration PLC and Seaway 7, both of which are engaged in offshore exploration and drilling activities. Their commitment to integrity and high ethical standards further supports their role as a reputable investor in the offshore drilling industry.

12. Kongsberg Maritime

• Website: kongsberg.com
• Type: Corporate
• Headquarters: Kongsberg, Buskerud, Norway
• Founded year: 1814
• Headcount: 5001-10000
• Number of deals in 2024: 1
• LinkedIn: kongsberg-maritime

Kongsberg Maritime, a subsidiary of Kongsberg Gruppen ASA, is a technology provider based in Kongsberg, Norway, specializing in advanced solutions for the maritime sector, among others. Founded in 1814, the company has a long history of innovation and collaboration with various industries, including defense and aerospace. In recent years, Kongsberg Maritime has made strategic acquisitions to enhance its capabilities in the maritime industry. Notably, they acquired Naxys Technologies, which focuses on underwater environmental monitoring, particularly for detecting oil and gas leaks, thereby directly supporting offshore drilling operations. Additionally, their acquisition of GeoAcoustics Ltd. enhances their underwater acoustics technology, which is vital for offshore exploration and drilling activities. Kongsberg Maritime's commitment to sustainable practices and operational efficiency further underscores their relevance in the offshore drilling sector.

13. Wärtsilä

• Website: wartsila.com
• Type: Corporate
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 1834
• Headcount: 10001+
• LinkedIn: wartsila

Wärtsilä Corporation, founded in 1834 and based in Helsinki, Finland, is a corporate investor specializing in innovative technologies and lifecycle solutions for the marine and energy markets. With a workforce of over 10,000 employees, Wärtsilä focuses on sustainability and efficiency, providing products such as power plants and marine engines. The company has made significant acquisitions to bolster its position in the offshore drilling sector, including the acquisition of Vik-Sandvik for $169.9 million, which enhances its ship design capabilities for offshore vessels. Additionally, the acquisition of Hamworthy aligns with its strategy to strengthen its offerings in offshore and marine gas applications. Other acquisitions, such as Eniram and Ships Electronic Services Ltd, further demonstrate Wärtsilä's commitment to enhancing its service capabilities and technological offerings in the marine industry, including offshore drilling applications.

14. Dnv

• Website: dnv.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1865
• Headcount: 10001+
• Number of deals in 2024: 4
• LinkedIn: dnvgl

Det Norske Veritas (DNV) is a consulting firm based in Oslo, Norway, founded in 1865. It provides a wide range of services including advisory, certification, classification, and cybersecurity across various industries such as maritime, oil and gas, and renewable energy. DNV's clients rely on its expertise for compliance, risk management, and operational efficiency. Notably, DNV has been involved in several transactions relevant to the offshore drilling sector, including the acquisition of a license portfolio from Noreco Norway, which includes a 20% interest in the Gohta discovery on the Norwegian Continental Shelf. This acquisition, announced on March 2, 2016, highlights DNV's direct involvement in offshore drilling activities. Additionally, in 2023, DNV acquired Åkerblå, gaining full ownership of Ocean Ecology, a consulting firm specializing in marine ecological services, further emphasizing its commitment to maritime and offshore sectors. DNV also participated in a funding round for ScoutDI, a company focused on drone inspection services, indicating its interest in innovative technologies that support offshore operations.

Offshore Drilling Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
HitecVision	Stavanger, Rogaland, Norway	51-200	1985	0
EV Private Equity	Stavanger, Rogaland, Norway	11-50	2002	0
Equinor	Stavanger, Rogaland, Norway	10001+	1972	6
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Ferd AS	Oslo, Oslo, Norway	51-200	1998	0
Norvestor	Oslo, Oslo, Norway	11-50	1989	3
Investinor	Trondheim, Trøndelag, Norway	11-50	2008	4
Aker Solutions	Fornebu, Akershus, Norway	10001+	1841	1
Altor Equity Partners	Stockholm, Stockholm, Sweden	51-200	2003	6
Addtech AB	Stockholm, Stockholm, Sweden	1001-5000	1906	9
Fearnley Securities	Oslo, Oslo, Norway	51-200	1869	0
Kongsberg Maritime	Kongsberg, Buskerud, Norway	5001-10000	1814	1
Wärtsilä	Helsinki, Uusimaa, Finland	10001+	1834	0
Dnv	Oslo, Oslo, Norway	10001+	1865	4

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