CG Rieber Shipping et al. invest in Hexio

CG Rieber Shipping has, together with StatoilHydro Ventures AS and Reservoir Innovation AS, established the holding company Hexio AS. The company will offer technology and services related to permanent monitoring (4C/4D) of oil and gas fields. Rieber has invested NOK 120m and will hold a 60% stake, while investors StatoilHydro and Innovation will own 20% each.

The operations of the new holding company will be run through the subsidiary Octio Geophysical AS, of which Hexio owns 74%. The remaining shares are held by ION Geophysical Corporation. Rieber will also transfer the 2D/source vessel Geo Explorer to the new company.

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