Akastor ASA: Equinor exercise option period for AKOFS Seafarer

Equinor Energy AS ("Equinor") has now notified AKOFS Offshore AS ("AKOFS Offshore") that the three-year option period under the existing contract for the vessel "AKOFS Seafarer" is exercised. The option period is estimated to commence in late Q4 2025, after the vessel has completed its customary Special Periodic Survey (SPS) and in direct continuation of the current contract period. The option period has a total value of about USD 300 million and means that the vessel will perform light well intervention services (LWI) for Equinor up to late Q4 2028. Akastor ASA (OSE: AKAST) currently owns 50% of AKOFS Offshore but has entered into an agreement to acquire an additional 25% interest. Reference is made to press release dated 6 November 2024.