PR Newswire | Dec 19, 2020 09:37AM EST

12/19 08:36 CST

Akastor ASA: MHWirth awarded drilling equipment package for drillship OSLO, Norway, Dec. 19, 2020

OSLO, Norway, Dec. 19, 2020 /PRNewswire/ -- HWirth 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.

For further information, please contact: yvind 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.

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SOURCE Akastor ASA