Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Akastor Asa News

09 Dec 2018

AGR, First Geo to Merge

Norwegian offshore oil and gas consultancy and services companies First Geo (owned by Akastor), and AGR Bidco are set to merge."Akastor AS (Akastor), has entered into agreements with Silverfleet Capital, DNB Bank ASA and Nordea Bank Abp, filial i Norge (together the AGR stakeholders) to combine AGR Bidco AS (AGR) with First Geo AS," said a press statement.The Transaction will be carried out primarily as an asset deal, whereby assets in the current AGR legal structure and three legal entities will, together with First Geo, be transferred to a new legal structure, which in turn will be transferred to Akastor to establish the merged company.The merged company will be named AGR. Akastor will hold 100% of the shares in the company and 55% of the economic interest.

19 Jun 2018

MOL Acquires Stake in AKOFS of Norway

Mitsui O.S.K. Lines (MOL)  announced that MOL and Mitsui & Co have entered into a share purchase agreement to acquire shares in AKOFS Offshore AS, which is owned by Akastor ASA, Norway. After in-kind contribution of the company of owner and leasing the subsea support vessel, Skandi Santos, which MOL, Mitsui & Co., and AKOFS are jointly operating since November 2016, MOL's acquisition amount will be about JPY 8 billion. MOL's acquisition of shares in AKOFS means MOL will become more deeply involved in the operation and ship management of subsea support vessels, marking its full-scale move into this field. AKOFS currently operates three subsea support vessels.

29 Apr 2018

Odfjell Drilling buys “Deepsea Nordkapp”

Odfjell Drilling announced that Aker BP has today awarded Odfjell Drilling a 2 year firm drilling contract with 1+1 year optional periods. The day rates for the drilling contract will be based on market terms to be determined prior to commencement of drilling operations. In addition to the market linked day rate, a performance bonus as agreed in the alliance agreement with Aker BP, as announced on 21 November 2017, will apply. The contract has a minimum value of USD 245 million, subject to certain adjustments. The commencement of drilling operations is expected in Q2/Q3 2019. For the purpose of the drilling contract with Aker BP, Odfjell…

25 Oct 2017

Akastor, Mitsui Seek To Expand Partnership

Akastor ASA (AKA), an oil service investment company, announced that it is in advanced discussions with Japan-based Mitsui & Co to further expand their current partnership to include AKOFS Offshore (AKOFS). The parties have entered into a Memorandum of Understanding (MoU). As per the MoU, Mitsui, together with potential partners, will invest in AKOFS by purchasing 50% of the shares in the company to form a new 50-50 joint venture. The Transaction is expected to result in an initial net cash release to Akastor of approximately USD 142 million for the shares in AKOFS, with a potential further cash release depending on earnings generated by the AKOFS Seafarer vessel in the coming years.

27 Nov 2016

Akastor, Mitsui, MOL Close JV Transaction

Akastor ASA (OSE: AKA) announced today that the Agreement with MITSUI & CO., LTD ("Mitsui"), and Mitsui O.S.K. Lines, Ltd. ("MOL"), to create a joint venture with 50/50 ownership between AKOFS Offshore AS ("AKOFS") and Mitsui/MOL has now been approved and concluded according to the terms and conditions described in the press release of September 20, 2016.   As a consequence, AKOFS will realize a cash gain of USD 66 million, and Akastor will realize an accounting gain of approximately USD 20 million. The accounting gain will be booked in Q4 2016.

16 Jul 2015

Røkke is CEO of Akastor ASA

Akastor ASA announced that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), a leading U.S. commercial shipyard, and previously President & CEO of AKPS, will assume his new position in Akastor ASA on August 10, 2015. Aker ASA will propose to the nomination committee of Akastor ASA that Frank O. Reite takes the position as Chairman of the Board of Akastor ASA later this year. "I am very pleased that Kristian has accepted the position at the helm of Akastor.

29 Sep 2014

AKOFS Offshore Gets Contract Extension from Petrobras

AKOFS Offshore, a part of Akastor ASA, has been notified of a five-year contract extension from Petrobras to use the Skandi Santos, a Subsea Equipment Support Vessel in Brazil. The extension, worth about NOK 2.5 billion, will start March 1, 2015 in direct continuation of current contract. The vessel is currently operating under a five-year contract with Petrobras that began March 1, 2010. The Skandi Santos is designed to install and retrieve subsea trees and modules, including subsea structures and manifolds at water depths of up to 2,300 meters. The vessel will during the contract extension period continue with its current scope of work and also start installing Petrobras' new generation of subsea trees offshore Brazil.

26 Sep 2014

Aker Solutions Demerger Registered

Photo: Aker Solutions / Rolf Estensen

The consummation of the demerger of Aker Solutions ASA (the existing Aker Solutions) was registered with the Norwegian Registry of Business Enterprises after the close of trading on the Oslo Stock Exchange on September 26, 2014. The separation of Aker Solutions into two independent companies was announced on April 30 and approved by shareholders on August 12, 2014. The completion of the 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.

18 Aug 2014

Rune Olav Pedersen Takes Over Corporate Communications in PGS

PGS' General Counsel Rune Olav Pedersen's role is expanded to also include the following departments from Corporate communications; investor relations (IR), internal and external communications, corporate marketing and customer relations. He will now have the position General Counsel and SVP Communications and Marketing and will continue to report to CEO Jon Erik Reinhardsen. Bård Stenberg is appointed VP Corporate Communications, responsible for IR, external and internal communications and will report to Rune Olav Pedersen. These organizational changes have been made following Tore D. Langballe announcing he will be leaving PGS to take a position as SVP Corporate Communications and IR, and Chief of Staff in Akastor ASA, an Aker-owned company.

11 Jul 2014

Demerger Proposed at Aker Solutions

Photo: Aker Solutions

The board of directors of Aker Solutions ASA has in accordance with the strategy disclosed April 30 resolved to propose to the company's shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services unit of Akastor, one of two companies that will emerge from the separation. Aker Solutions Holding ASA - a subsidiary of Aker Solutions ASA established for the purposes of the demerger…