Akastor ASA: AKOFS Offshore AS signs contract for “Aker Wayfarer”

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: oyvind.paaske@akastor.com

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.