Presentation

Akastor is an oil service investment company with a portfolio of industrial holdings and financial investments. The company was created through a demerger from Aker Solutions in September 2014. Following the merger between First Geo and AGR, Akastor currently has four reporting business segments; MHWirth, AKOFS Offshore, AGR and Other Holdings. Akastor is listed on the Oslo Stock Exchange and with headquarters at Fornebu outside of Oslo, Norway.

MHWirth provides integrated drilling solutions and services, including a wide array of drilling equipment, drilling riser solutions and related products. AKOFS Offshore is a provider of vessel-based subsea well construction and intervention services, offering a fleet consisting of two subsea equipment service vessels (SESV) and one light well intervention vessel (LWI). The two SESVs are on firm contracts with Petrobras until November 2020 and January 2023, respectively, while the LWI vessel is set to commence a firm five-year contract with five optional years with Equinor shortly. In addition, Akastor has financial investments in NES Global Talent and Odfjell Drilling. It has a ~18% economic ownership in NES Global Talent, which is a global workforce solutions specialist that provides professionals across several sectors, including oil and gas, construction, and infrastructure and IT. As part of financing for Odfjell Drilling’s acquisition of the 7G semi-submersible Deepsea Nordkapp, Akastor purchased USD 75m of preferred equity in Odfjell that yields up to 10% annually in cash and 5% in PIK, with further upside potential from a warrant structure.