U.S. energy-focused private-equity firm First Reserve Corp., through subsidiary Turbo Alpha Ltd., plans to acquire Abbot Group Plc, Aberdeen, (London: ABG) for £906 million (US$1.8 billion). Abbot is an oil and gas services business focusing on drilling services and rig operations in more than 20 countries, primarily Europe, North and West Africa, the Middle East, the Caspian area and Russia. It is the largest offshore platform drilling contractor in the North Sea, an operator of mobile offshore drilling units and one of the largest international land drilling contractors.
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