Two Japanese firms have agreed to buy 50% of Akofs Offshore from Norwegian oil service investor Akastor for $142.5 million.
Akastor ASA owned company AKOFS Offshore today announced the signing of a letter of intent with Norwegian energy firm Equinor, formerly Statoil, for well intervention services.
Norwegian oil service investment firm Akastor said today that a Japanese business had provisionally agreed to buy into one of its portfolio companies.
National Oilwell Varco (NOV) has agreed to buy oil and gas service firm Fjords Processing for NOK 1,200million (£120million).
Akastor has sold-off its Frontia IT business in a NOK1.03billion deal.
Akastor and Mitsui have signed a joint venture to acquire both the Skandi Santos hull from DOF Subsea Rederi AS and the Skandi Santos topside from AKOFS.
Akastor’s finances and employee count are both down as continues to battle “weak market conditions”.
Akastor has reached an agreement with its bank syndicate on terms and conditions to amend and extend its current bank facilities until July 2019.
Akastor confirmed it would continue to cut employee numbers, reaching an overall reduction of 33%.
Akastor ASA has appointed a new chief executive.