Common Brothers Limited (CB) U.K. recently announced the completion of a transaction with Norex Corporation Limited under which CB acquired an 80 percent interest in the drillship IRO Frigg, and a 35 percent interest in the liquefied petroleum gas carrier Ribagorsa.

The drillship recently commenced a two-year contract with Phillips Petroleum Company operating off the Ivory Coast, and the liquefied petroleum gas carrier will shortly commence a five-year charter with Naftomar Shipping and Trading Company.