Stena Drilling takes stake in digital offshore lifting tech firm

Offshore drilling contractor Stena Drilling has made a move to acquire a 30 per cent stake in Intebloc, a specialist digital lifting technology solutions provider, which improves the safety and productivity of offshore lifting operations.

Announcing the deal on Tuesday, Stena Drilling said the move is part of its efforts to positions itself as one of the most digitally efficient and sustainable drilling contractors globally.

With backing and investment from Stena Drilling, Intebloc will accelerate its product development strategy and diversify into construction, renewables, and the marine sector globally.

Ross McLeod, CEO at Intebloc said: “We have benefited significantly from Stena’s feedback in the development of Rig-Ware, which has now been successfully deployed with several UKCS operators and service companies. Much of this has been achieved during the restrictions imposed by COVID-19 and we look forward to continuing our aggressive growth and the launch in Q3 2021 of our next product”.

The announcement follows Stena Drilling’s early adoption of Intebloc’s Rig-Ware solution, used for managing and tracking lifting equipment. The system was initially trialled on several Stena Drilling assets and is now being used by the entire fleet.

Colin Dawson, Digital Business Transformation Manager at Stena Drilling said: “The market demands more focus on digital technologies that truly add value. We have identified exponential technologies that accelerate our goal of delivering the most sustainable, digitally empowered service.

“Intebloc is one of those; its innovation culture and technology roadmap are the reasons why we believe that they can deliver significant improvements in lifting practices not only in upstream oil and gas, but across the entire lifting market”.

Erik Ronsberg, CEO at Stena Drilling, added: “Our work with the Intebloc team over the last two years has driven our excitement and belief in the transformational potential of their technology. We believe that this investment will deliver significant synergies to both parties and I foresee an exciting future working together”.