Akastor ASA: DDW Offshore awarded contract extension

Akastor ASA's (OSE: AKAST) subsidiary DDW Offshore AS ("DDW Offshore") has been awarded a 6-month extension of the existing contract with Petrofac for the vessel Skandi Emerald. The extension means that the contract term now is extended to 14 July 2025. This extension builds on previous agreements referenced in press releases dated 27 September 2022 and 30 January 2024.

Following this latest contract extension, the total contract backlog for DDW Offshore's fleet of three vessels now stands at approximately USD 38 million.   

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

oyvind.paaske@akastor.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

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About DDW Offshore:

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic, Skandi Emerald and Skandi Peregrino) with capability to operate and support clients on a world-wide basis. The vessels are specially designed to perform anchor-handling, towing, and supply services at offshore oil and gas fields.

For further information, please visit homepage: https://www.ddwoffshore.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.