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, with Aker as the largest shareholder with a 36.7% stake. Following the merger between First Geo and AGR, Akastor currently has four reported investments: MHWirth, AKOFS Offshore, AGR and Cool Sorption. Akastor is listed on the Oslo Stock Exchange, 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. In March 2021, Baker Hughes and Akastor announced a joint venture between Baker Hughes’s Subsea Drilling Systems business together with MHWirth. The goal is to provide their customers with full-service offshore drilling equipment and position themselves for the industry’s future with a transition to more energy-efficient solutions. The integration is set to be completed H2’21, and will be owned 50-50 by Baker Hughes and Akastor.

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 2021 and January 2023 respectively, whilst the LWI vessel is on a long-term contract with Equinor.

AGR provides well design, drilling project management, HSEQ, reservoir and field management service, meaning that they deliver solutions for the whole life-cycle of a field. Cool Sorption delivers Vapour Recovery Units.

In addition, Akastor has financial investments in NES Fircoft, Odfjell Drilling, Awilco Drilling and DDW Offshore AS.