OSLO, Norway, Dec. 22, 2021 /PRNewswire/ -- Akastor ASA's (OSE:
AKAST) subsidiary AGR AS ("AGR") has today completed the transfer
of all shares in AGR Well Management Limited ("AGR Well
Management") to SpotOn Energy Holding AS ("SpotOn Energy") as per
the terms of a transfer agreement entered into last week. As
compensation for the transfer, AGR has received 20% ownership in
SpotOn Energy, which will strengthen the cooperation between AGR
and SpotOn Energy going forward.
AGR Well Management is the UK well management division of AGR,
which now will change name to SpotOn Well Management. The AGR
Consultancy Services UK division will continue under its current
ownership servicing international and UK North Sea clients from
AGR's Aberdeen based office in the Admiral Court.
For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com
This press release may include forward-looking information or
statements and is subject to our disclaimer; see
https://akastor.com.
About AGR
AGR is a multi-disciplinary engineering consultancy and software
provider that provides its services globally to clients that range
from multi-national energy companies to smaller, independent
developers as well as the financial investor community.
Current ownership structure of AGR was established in 2019,
through the merger of AGR and First Geo AS. Whilst Akastor owns
100% of the shares in AGR, the economic interest is shared between
Akastor, DNB Bank ASA and Nordea Bank Abp, filial i Norge,
respectively with 64/18/18 percentage parts.
For further information, please visit
homepage: https://agr.com/
About Akastor
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.
For further information, please visit homepage:
https://akastor.com/
About SpotOn Energy Holding AS
SpotOn Energy Holding is a Norway based field development group,
promoting innovative financing method and models to reduce the
equity part for the field license owners. The company targets to
develop fields in a consortium with reputable industry contractors
for a share of the profits of the production.
For further information, please visit homepage:
https://spotonenergy.no/
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