Akastor's AKOFS Offshore Secures $246 Mln Petrobras Contract For AKOFS Santos Vessel In Brazil

(RTTNews) - Oilfield services investment company Akastor ASA (AKKVF, AKAST.OL) Tuesday said that its 66.7 percent-owned affiliate, AKOFS Offshore AS, secured a four-year contract for its vessel AKOFS Santos, after a competitive tender process.

The company said in a statement that under this new agreement, the vessel will continue to operate as a Multi-Purpose Supply Vessel or MPSV for Petróleo Brasileiro S.A. in Brazil. The operations are scheduled to begin in January 2027, after the completion of the vessel's ongoing contract and the necessary preparations for the upcoming project, Akastor added.

According to Akastor ASA, AKOFS Offshore will carry out the AKOFS Santos operations in partnership with Bravante, which will provide marine services, and IKM Subsea, which will deliver ROV services. The total value of the contract is thought to be $246 million, with approximately $140 million in revenue being allocated to AKOFS Offshore. This amount will be added to the company's backlog, thus increasing its total contract backlog to around $612 million at the end of the second quarter of 2025.

On the Oslo Stock Exchange, AKAST.OL ended Monday's trading at 11.50 Norwegian Kroner, up 1.05%.