Japanese oil company JX Nippon Oil & Gas has agreed to buy Japan’s only drilling rig company as part of its move into carbon capture and storage (CCS).

The company is acquiring the entire issued shares of Japan Drilling Co (JDC) from domestic private equity outfit Aspirant Group Inc for an undisclosed fee.

JDC operates four offshore drilling rigs, three jack-ups — the Hakuryu-10, Hakuryu-11 and Hakuryu-14 and one semi-submersible — the Hakuryu-5.