AKOFS Offshore Inks $282m, Four-year Deal for Aker Wayfarer
Akastor ASA's 50% owned affiliate AKOFS Offshore AS 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. 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 $282 million, of which about $198 million will be revenue
Odfjell Drilling buys “Deepsea Nordkapp”
;Company Presentation”), the Odfjell Drilling intends to finance the acquisition of the Unit through (i) a contemplated USD 325 million senior secured term loan facility, (ii) proceeds from the Private Placement, (iii) proceeds from a contemplated issue of preference shares to an affiliate of Akastor AS (“Akastor”) and (iv) a seller's credit from SHI of USD 48.25 million. Odfjell Drilling is in constructive dialogue with bank lenders for the USD 325 million new senior secured term loan. The senior secured term loan is expected to have a similar structure as Odfjell Drilling&rsquo
MOL Moves into OSV Field
;from survey of subsea oil and gas fields, to installation, inspection, maintenance, repair, and decommissioning of subsea facilities. MOL has also agreed to examine opportunities to expand cooperative ties, based on a long-term perspective, with Mitsui & Co., AKOFS, and its parent company Akastor ASA (Akastor; CEO: Kristian Røkke; Headquarters: Norway). The subsea support vessel business is a field in which MOL can make use of extensive experience gained over two decades of managing cable-laying vessels, and represents a new offshore business following its floating production
MHWirth to Sell MPD Business to AFGlobal
MHWirth, a subsidiary of the publicly listed Akastor ASA, has reached an agreement with AFGlobal Corporation to divest its Managed Pressure Drilling (MPD) business through the sale of its subsidiary, Managed Pressure Operations (MPO). The transaction will be settled through a cash consideration of $10 million on closing, combined with an earn-out element, which could potentially reach $65 million over the next six years. The agreement ensures the ability for MHWirth to provide Integrated MPD drilling packages to the market in the future. Finn Amund Norbye, CEO of MHWirth comments: “We
Aker Solutions Starts Trading After Company Split
after a spin-off of the Subsea, Umbilicals, Engineering and Maintenance, Modifications and Operations (MMO) businesses of the former Aker Solutions, which has been split into two separate entities to reduce complexity, realize synergies and bring down costs. The other company formed in the separation is Akastor, an oilfield services investment business that will develop the former group's other units, including Drilling Technologies. "The split creates a simpler and more focused Aker Solutions that is better positioned to meet the needs of customers in an increasingly competitive global energy
Name-Juggling No Handicap as Akastor Nets CSV Contract
Akastor ASA informs that it has commenced trading exclusive of rights to consideration shares in New Aker Solutions, and secured an extension of the CSV 'Skandi Santos' charter the same day. Following the completion of the demerger of the Aker Solutions group, Aker Solutions ASA has changed its name to Akastor ASA and is traded under the ticker AKA at Oslo Stock Exchange. New Aker Solutions has simultaneously changed its name to Aker Solutions ASA, and will as of Monday September 29, 2014 trade under the AKSO ticker at Oslo Stock Exchange. CSV "Skandi Santos" was awarded five-year
Aker Solutions Demerger Registered
demerger involves changes to the share capital, the registration of new boards of directors, changes in company names and trading tickers and adoption of new articles of association, as outlined below. As a consequence of the demerger, the share capital of the existing Aker Solutions (to be renamed Akastor) has been reduced to NOK 162,208,000 from NOK 454,840,000 through a reduction of the par value of each existing share in Aker Solutions to NOK 0.592 from NOK 1.66. Simultaneously, with the reduction in the existing Aker Solutions' share capital, the new Aker Solutions' share capital has been (i)
Oslo Stock Exchange Approves Listing of Aker Solutions Holding ASA
in the shares to begin on September 29. Aker Solutions Holding ASA was created to facilitate the demerger of Aker Solutions into two independent companies. It will be renamed Aker Solutions ASA on completion of the separation announced April 30 this year. The existing Aker Solutions will be renamed Akastor ASA, an oil-services investment company created by the separation. The creditor notice period applicable to the demerger expired at 24:00 hours CET on September 23. All conditions for consummating the demerger have been satisfied and the consummation will be registered with the Norwegian Registry
Aker Wayfarer Wins 5-Yr Contract from Petrobras
won a contract worth USD 465 million over five years from Petrobras to provide subsea intervention services offshore Brazil from the Aker Wayfarer vessel. The contract will start within the fourth quarter of 2016 and has a five-year option extension. AKOFS will at the end of September become part of Akastor, an oilfield services investment company that will be one of two companies formed as part of the announced separation of Aker Solutions. The Aker Wayfarer vessel will be outfitted at a yard in Norway to become a deepwater subsea equipment support vessel (SESV). It will have a fibre-rope deployment
February 2024
