Akastor ASA: AKOFS Offshore AS signs contract for 'Aker Wayfarer'

Akastor ASA: AKOFS Offshore AS signs contract for "Aker Wayfarer"

25 Jul 2022 08:00 CEST

Akastor ASA's (OSE: AKAST) 50% owned affiliate AKOFS Offshore AS (AKOFS
Offshore) 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 Petróleo Brasileiro S.A. (Petrobras) as client in Brazil. The duration of
the contract is 1,415 days, or almost 4 years, and the services will commence in
first half of 2023. AKOFS Offshore will be performing the "Aker Wayfarer"
operations jointly with its partners Bravante for marine services and
Oceaneering for ROV services.

Total contract value is about USD 282 million, of which about USD 198 million
will be revenue allocated to AKOFS Offshore and included in the company's
backlog.

AKOFS Offshore, headquartered in Oslo, Norway, is a global provider of vessel
based subsea well intervention and installation services to the oil and gas
industry. In addition to the vessel "Aker Wayfarer", it also operates the
vessels "AKOFS Santos" and "AKOFS Seafarer". The Company is owned by Akastor AS
(50%), Mitsui & Co., Ltd (25%) and Mitsui O.S.K. Lines, Ltd. (25%).

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

E-mail: [email protected]

This press release may include forward-looking information or statements and is
subject to our disclaimer; see https://akastor.com.

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

More information:
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Source

Akastor ASA

Provider

Oslo Børs Newspoint