Norway’s energy giant Equinor Energy AS has now notified AKOFS Offshore AS that the three-year option period under the existing contract for the well intervention vessel AKOFS Seafarer is exercised.
Norway-based oil-services investment firm Akastor, which currently owns 50% of AKOFS Offshore, has revealed that the option period is worth $300m.
The option period is estimated to begin in the late fourth quarter of 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 $300m and means that the vessel will perform light well intervention services for Equinor up to the late fourth quarter of 2028.
In recent company news, Akastor ASA currently owns 50% of AKOFS Offshore but has entered into an agreement to acquire an additional 25% interest.
AKOFS Offshore is currently owned by Akastor AS (50%), Mitsui & Co., Ltd (25%) and Mitsui O.S.K. Lines, Ltd. (25%).
AKOFS Offshore operates three specialized offshore vessels, AKOFS Santos, Aker Wayfarer and AKOFS Seafarer, with the first two vessels contracted to Petrobras for work in Brazil and the last one contracted to Equinor for work on the Norwegian Continental Shelf.
