Akastor ASA, which owns a 50% share of AKOFS Offshore, has announced that Equinor Energy AS has extended its existing contract for the vessel AKOFS Seafarer.
The three-year option period has been activated by Equinor and is expected to commence in late Q4 2025. This is after the vessel has completed its customary special periodic survey and is in direction continuation of the current contract period.
According to Akastor, the option has a total value of US$300mn and will mean that the vessel will continue to perform light well intervention services for Equinor well into 2028.
Akastor’s move to acquire a 50% interest in AKOFS Offshore was undertaken in light of the “compelling” subsea well intervention and installation sector. Learn more about this development by clicking here.
