Akastor — M&A Activity 2020

Dec 19, 2020

Akastor ASA: MHWirth awarded drilling equipment package for drillship

Akastor ASA: MHWirth awarded drilling equipment package for drillship

MHWirth AS, a company owned by Akastor ASA (OSE: AKAST), has today received

notification of award of a contract for delivery of a drilling equipment package

to Guangzhou Marine Geological Survey (GMGS). The contract is for delivery of

the topside drilling equipment to be installed onboard a drillship operated by

GMGS with expected delivery date in December 2023.

Total contract value is about USD 80 million. MHWirth will now engage with the

client to conclude the final contract terms. Signing of final contract is

expected to take place in Q1 2021.

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For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Mobile: +47 917 59 705

E-mail: oyvind.paaske@akastor.com

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.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.