The Russian Direct Investment Fund, a state-owned wealth fund, intends to acquire certain stake in Eurasia Drilling Company Limited, a provider of drilling and well services to the oil and gas industry.
Eurasia Drilling is an onshore and offshore drilling and well services contractor. As of December 31, 2015, the company owned 258 land drilling and sidetrack rigs and 421 land workover and well service rigs.
The transaction will enable Russian Direct Investment to strengthen its investment portfolio.
Kirill Dmitriev, CEO of Russian Direct Investment, said, "We are interested in investing (in Eurasia Drilling), we are studying it."