NORWEGIAN offshore contractor Odfjell Drilling plans to spin off two of its three core business units to create a new company, Odfjell Technology, and list it on the Oslo Stock Exchange within two months. The two units - energy and well services - reported revenues of $154 million and $85 million respectively between January and September last year, compared with revenues of $428 million made in the same period by the Odfjell business unit covering mobile offshore drilling units. The energy unit has been providing drilling services in the North Sea to BP, Equinor, Conoco-Phillips and Wintershall Dea.
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