Energy

Project Triton — Offshore Drillship Investment, Indonesia (65% Stake)

Majority stake sale and capital raise: 65% of an Indonesian company that owns a DP2 deepwater drillship (DNV classed, 1,700 m water depth, 7,000 m drilling depth, 120 berths), now in the final stage of reactivation at Batam. Revenue is contracted before completion — a firm 180-day, one-well offshore drilling contract in the Natuna Sea with a Pertamina subsidiary, effective November 2025, valued at USD 54.3m at a day rate of USD 188,000; the contract sits with a three-party consortium of which the company is one member. USD 22.0m of reactivation has been funded and spent; the USD 27.1m completes the subsea scope and funds working capital to first revenue, targeted April 2027. Investor principal is repaid ahead of profit distribution. A USD 179m campaign pipeline is indicated but unawarded.

Asking price

USD 27.1m for 65%

Sector

Energy

Listed date

September 24, 2026