Akastor - Capital/Financing Update 2022

Akastor ASA: DDW Offshore AS signs contract for "Skandi Atlantic"

Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") has been

awarded a firm 1 year contract by Petrofac for the AHTS vessel Skandi Atlantic.

The AHTS will support the disconnection of the FPSO "Northern Endeavour"

together with towing and well isolations work in the Laminaria Corallina oil

fields in the West Timor Sea. The contract start date is as from today,

September 27th, 2022.

DDW Offshore, headquartered in Oslo, Norway, owns five modern Anchor Handling

Tug Supply (AHTS) vessels with the capability of operating and supporting

clients on a worldwide basis. The vessels are specially designed to perform

anchor handling, towing and supply services at offshore oil and gas fields. The

company is owned 100% by Akastor AS.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

This press release may include forward-looking information or statements and is

subject to our disclaimer; see

https://akastor.com (https://eur01.safelinks.protection.outlook.com/?url=https%3A

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Akastor is a Norway-based oil-services investment company with a portfolio of

industrial holdings and other investments. The company has a flexible mandate

for active ownership and long-term value creation

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