Search results for: Akastor

111 results

A list of search results

  • 16 July 2015
    Business & Finance

    Akastor ASA has appointed Kristian Røkke as its Chief Executive Officer to succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. The Norway-based oil-services company said that Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), and previously President & CEO of AKPS, will assume his […]

  • 16 July 2015
    Business & Finance

    Akastor ASA’s Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), and previously President & CEO of AKPS, will assume his new […]

  • 12 December 2017
    Business & Finance

    Kristian Røkke, CEO of Akastor, has decided to take up the position of chief investment officer in Aker ASA, effective from January 1, 2018.

  • 16 December 2016

    Akastor ASA, an oil service investment company, has completed the sale of Fjords Processing to National Oilwell Varco (NOV). The definitive sales agreement between the parties signed on October 27, 2016, was for a debt- and cash-free consideration of NOK 1.2 billion ($145.2 million). The transaction provided an accounting gain of approximately NOK 650 million to […]

  • 22 November 2019
    Business & Finance

    Oilfield services investment company Akastor has appointed Øyvind Paaske as chief financial officer, effective March 1, 2020. He replaces Leif H. Borge who will remain in the position up to this date, after which he will assume a new position in a company outside the Aker group. Øyvind Paaske joined the investment team in Akastor […]

  • 8 April 2015
    Business & Finance

    Akastor ASA, an oilfield services investment company, has informed that Paal E. Johnsen will take the position as Investment Director in Akastor, and will be a part of the company’s executive management team. According to the company, Johnsen comes from a position in DNB Markets, and has extensive experience at management and board level in […]

  • 16 April 2015
    Business & Finance, Equipment, Operations & Maintenance

    Oilfield services investment company, Akastor, has confirmed that its wholly owned portfolio company MHWirth will axe its global workforce due to deterioration in the rig market. Namely, in February this year, MHWirth announced it will be reducing its workforce between 500-750 people. In line with that announcement, Akastor today informed that 750 jobs will be […]

  • 12 December 2017
    Business & Finance

    Akastor’s board of directors has appointed Karl Erik Kjelstad as its chief executive officer effective January 01, 2018. Karl Erik Kjelstad has been EVP and investment director in Akastor since its establishment in 2014. He joined the Aker Group in 1998 and has held various executive positions throughout the Group, including EVP of Aker Solutions and […]

  • 25 October 2017

    Norwegian oil service investment company Akastor is in advanced discussions with Japanese trading and investment company Mitsui to further expand their current partnership to include AKOFS Offshore.  Akastor-owned AKOFS Offshore is a vessel-based subsea well construction and intervention services provider. Akastor and Mitsui have entered into a memorandum of understanding according to which Mitsui, together with […]

  • 19 June 2018
    Business & Finance, Operations & Maintenance

    Akastor has entered into a share purchase agreement with Mitsui and MOL (Mitsui O.S.K. Lines) for transfer of 50% of its shares in AKOFS Offshore in order to form a joint venture ownership. Each of Mitsui and MOL will purchase 25% of the shares in AKOFS Offshore from Akastor. The remaining 50% will continue to […]

  • 7 December 2018
    Business & Finance, Equipment

    Norwegian offshore oil and gas consultancy and services companies First Geo (owned by Akastor), and AGR are set to merge. The merged entity will be owned by Akastor.

  • 8 December 2016
    Business & Finance

    Akastor, an oil service investment company, has entered into a definitive agreement with the owners of NES Global Talent (NES) to join its Frontica Advantage business with NES. According to a statement by Akastor on Thursday, NES will acquire all the shares in Frontica Advantage Group, which are owned by Frontica Group, and Akastor will […]

  • 7 December 2018
    Business & Finance, Equipment, Operations & Maintenance

    Akastor has entered into agreements with AGR stakeholders to combine its First Geo business unit with AGR. The Transaction will be carried out primarily as an asset deal, whereby assets in the current AGR legal structure and three legal entities will, together with First Geo, be transferred to a new legal structure, which in turn […]

  • 22 November 2019
    Business & Finance

    Norway’s oil-services investment company Akastor has named a new chief financial officer of the company.

  • 28 April 2015
    Business & Finance, Operations & Maintenance

    Oilfield services investment company, Akastor, has posted a loss of NOK 251 million ($32.4 million), compared with NOK 3.26 billion ($421 million,  NOK 3.23 billion from discontinued operations) in the corresponding period in 2014. The Oslo-listed company remained in red following the fourth-quarter 2014 loss of NOK 502 million. Akastor was established as a separate listed […]

  • 12 June 2017

    Akastor, a Norway-based oil service investment company, is set to sell KOP Surface Products to The Weir Group for $114 million on a debt- and cash-free basis. KOP is headquartered in Singapore and is a supplier of surface wellheads, trees, valves and actuators to the oil and gas industry both offshore and onshore. “KOP has done an excellent job […]

  • 8 April 2015
    Business & Finance

    Paal E. Johnsen will take the position as Investment Director in Akastor, and will be a part of the company’s executive management team, the company announced. Johnsen comes from a position in DNB Markets, and has extensive experience at management and board level in various companies in industry and finance, including Carnegie ASA and Alden […]

  • 3 October 2016
    Business & Finance

    Akastor, an oil service investment company, has entered into a definitive agreement to sell Frontica to Cognizant for a consideration of NOK 1,025 million on a debt-and-cash-free basis. Frontica is comprised of the ITO and BPO business segments of the Frontica Group, and excludes Frontica’s staffing business, Frontica Advantage. “Frontica has undergone an impressive organizational […]

  • 27 October 2016
    Business & Finance

    Akastor ASA, an oil service investment company, has entered into a definitive agreement to sell Fjords Processing to National Oilwell Varco (NOV) for a consideration of NOK 1.2 billion ($145.2M) on a debt- and cash-free basis. Fjords is a global provider in complete process support systems for gas, oil and water. Akastor said on Thursday […]

  • 13 February 2019
    Business & Finance

    Norwegian oil service investment company Akastor has appointed a new executive chairman and chief executive officer of MHWirth.

  • 16 July 2015

    Akastor, a Norway-based oil-services investment company, will cut 585 jobs by the end of 2015.   Akastor, formerly a part of Norway’s oilfield services company Aker Solutions, owns six stand-alone businesses within the oilfield service industry: MHWirth, Frontica Business Solutions, AKOFS Offshore, Fjords Processing and KOP Surface Products. Akastor said Thursday that cost reduction activities will involve all […]

  • 19 June 2018
    Business & Finance

    Norway’s Akastor has agreed to sell a stake in its subsidiary Akofs Offshore to Japanese companies Mitsui and MOL.