Wednesday, May 22, 2019

Akastor Asa News

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.

MHWirth Bags Drilling Equipment Contract

Photo: MHWirth

MHWirth AS, a company owned by Akastor ASA, has entered into a contract with Keppel FELS for delivery of the drilling equipment package for a new semisubmersible drilling rig for harsh environment use, with options for further three packages. The rig will be built for Awilco Drilling PLC (through its fully owned subsidiary Awilco Rig 1 Pte. Ltd) by Keppel FELS Limited of Singapore. Delivery is planned for late Q1 2021.

MOL Moves into OSV Field

Subsea Support Vessel“Skandi Santos” Photo MOL

Mitsui O.S.K. Lines, Ltd. today announced that it has teamed up with Mitsui & Co., Ltd. and AKOFS Offshore AS to purchase the subsea support vessel Skandi Santos from the current shipowner through a three-way joint venture company called Avium Subsea ASand started the business effective on November 23. Brazil’s national oil company, Petróleo Brasileiro S.A., has chartered the Skandi Santos from AKOFS since 2010…

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.

Røkke is CEO of Akastor ASA

Kristian Rokke

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.

Akastor Q1 Earnings update

Akastor ASA (Akastor) announced on February 10 2015 that its fully owned portfolio company MHWirth had to undertake a necessary reduction of its global work force of approximately 500 - 750 people due to the very challenging rig market, affecting both MHWirth and its customers. The reduction in workforce will be 750 people, and a restructuring cost of NOK 40 million will be charged to MHWirths' first quarter result.

AKOFS Offshore Gets Contract Extension from Petrobras

Skandi Santos

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.