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Akastor ASA ( (AKKVF) ) just unveiled an announcement.
AKOFS Offshore has secured a new four-year contract for its vessel Aker Wayfarer to continue operating as a Subsea Equipment Support Vessel for Petrobras in Brazil, with operations scheduled to start in September 2027 after the current agreement ends and preparations are completed. The work will be carried out together with partners Bravante for marine services and Oceaneering for remotely operated vehicle services, reinforcing AKOFS Offshore’s role in Brazil’s subsea oil and gas market.
The total contract value is USD 330 million, of which about USD 213 million will be recognized as revenue by AKOFS Offshore and added to its backlog. Following this award, the company’s total contract backlog rises to approximately USD 752 million as of the end of January 2026, strengthening earnings visibility for AKOFS Offshore and indirectly for its majority owner Akastor, and underlining continued demand for specialized subsea service vessels in key offshore regions.
More about Akastor ASA
Akastor ASA is a Norway-based oil-services investment company with a portfolio of industrial holdings and a mandate for active ownership and long-term value creation. Its 66.7% owned affiliate AKOFS Offshore provides vessel-based subsea well construction and intervention services to the oil and gas industry, operating three specialized offshore vessels serving clients such as Petrobras in Brazil and Equinor on the Norwegian Continental Shelf.
AKOFS Offshore employed around 360 people at the end of 2025 and is jointly owned by Akastor, with a two-thirds stake, and Mitsui O.S.K. Lines, which holds the remaining one-third. The company focuses on complex subsea projects, positioning its fleet of AKOFS Santos, Aker Wayfarer and AKOFS Seafarer in key offshore energy regions to support major operators’ subsea operations.
Average Trading Volume: 215,468
Current Market Cap: NOK3.57B
For an in-depth examination of AKKVF stock, go to TipRanks’ Overview page.