Reference is made to the press release From Akastor dated 14 January 2025 regarding the agreement in which Akastor ASA (OSE: AKAST) transfers 8.3% of the shares in AKOFS Offshore AS ("AKOFS Offshore") to Mitsui O.S.K. Lines, Ltd. ("MOL"). The transfer has now been completed in accordance with the agreed terms, whereby Akastor and MOL now control 2/3 and 1/3 of the shares in AKOFS Offshore, respectively.

Equinor Energy AS (“Equinor”) has now notified AKOFS Offshore AS (“AKOFS Offshore”) that the three-year option period under the existing contract for the vessel “AKOFS Seafarer” is exercised. The option period is estimated to commence in late Q4 2025, after the vessel has completed its customary Special Periodic Survey (SPS) and in direct continuation of the current contract period. The option period has a total value of about USD 300 million and means that the vessel will perform light well intervention services (LWI) for Equinor up to late Q4 2028.

Reference is made to Akastor press release dated 6 November 2024 concerning the agreement between Akastor ASA (OSE: AKAST) and Mitsui & Co., Ltd. (“Mitsui”) on the transfer of all of Mitsui’s interests in AKOFS Offshore AS (“AKOFS Offshore”). The transfer has today been completed as per the terms agreed, whereby Akastor now controls 75% of the shares in AKOFS Offshore.

The OWI Global Awards is a yearly award event within the international Well Intervention and P&A industry, hosted by Offshore Network (Offsnet.com/owi-awards).

AKOFS Offshore AS has now signed a firm contract for its vessel “Aker Wayfarer” that will continue to perform services as a subsea equipment support vessel (SESV) for Petrobras as client in Brazil.

AKOFS Seafarer has just completed mobilization for an upcoming 3 well campaign as part of the 5 year contract for well intervention for Equinor on NCS. The work has been performed at the Myklebust yard in Norway. Thanks to the OneTeam for completing an intensive mobilization without any serious safety incidents!

AKOFS Offshore has signed a firm three-year contract with Petróleo Brasileiro S.A. (Petrobras) for its vessel “Skandi Santos” to perform a broad scope of subsea services in Brazil.

Reference is made to the stock exchange release dated 19 June 2018 regarding Akastor’s agreement to transfer shares.

Steady as she goes – AKOFS is moving closer to operations for Equinor on the 5 year contract on Norwegian Continental Shelf next year!

On January 28th AKOFS successfully installed the MISAG-2 GE-06 / P-76 manifold for Petrobras on the Buzios field in the Santos basin.