Stena Drilling acquires 30% stake in digital offshore lifting technology company Intebloc

Source: press release, 8 June 2021

Senior members of the Intebloc and Stena team
Senior members of the Intebloc and Stena team (photo: Stena Drilling)

Stena Drilling, an independent drilling contractor, has announced its acquisition of a 30% stake in Intebloc, an award-winning specialist digital lifting technology solutions provider, which improves the safety and productivity of offshore lifting operations. The deal marks another milestone on Stena Drilling’s digital evolution, as it positions itself as one of the most digitally efficient and sustainable drilling contractors globally.

With backing from Stena Drilling, Intebloc will accelerate its product development strategy. In addition, the investment will enable Intebloc’s diversification into construction, renewables and the marine sector globally.

Ross McLeod, CEO at Intebloc says, “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 to improve offshore safety, reduce the risk of lifting equipment failures, and enable timely and informed decision making.

Colin Dawson, Digital Business Transformation Manager at Stena Drilling says, “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. I look forward to working closely with the team on future developments.”

Erik Ronsberg, CEO at Stena Drilling adds, “Our work with the Intebloc team over the last 2 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.”

Intebloc was supported by OGTC, who helped accelerate the development and deployment of Rig-Ware. The company continues to work with OGTC in the development of their second enhanced lifting technology, focused on safe marine operations.