AKOFS Offshore
AKOFS Offshore AS is a Norwegian privately-held provider of vessel-based subsea well construction and intervention services, operating three monohull vessels (AKOFS Seafarer, AKOFS Santos, Aker Wayfarer) for oil and gas producers including Petrobras and Equinor, with a contract backlog of approximately USD 752 million.
- Company typePrivate
- Founded2007
- HeadquartersOslo, Norway
- Headcount251–500
- GTM typeB2B
- OfferingServices
What AKOFS Offshore does
AKOFS Offshore AS is a Norwegian-headquartered, privately-held provider of vessel-based subsea well construction and intervention services to the global oil and gas industry. The company operates three state-of-the-art monohull vessels — AKOFS Seafarer (well intervention unit), AKOFS Santos (Multi-Purpose Supply Vessel), and Aker Wayfarer (Subsea Equipment Support Vessel) — engineered for operations in water depths up to 3,000 metres and certified to IMO-MODU code, DNV DP-3 dynamic positioning class, and (for Seafarer) DNV "Clean" and "Battery" notations. Proprietary technology includes a neutrally buoyant fibre rope deployment system that enables 300-tonne lifts at 3,000m water depth without capacity loss (unique to Aker Wayfarer), the pioneering Subsea Equipment Support Vessel (SESV) service model responsible for more than 400 X-mas tree installations since 2010, and a hybrid battery power system on AKOFS Seafarer that reduces CO2 emissions by approximately 2,500 tonnes per year and NOx by approximately 87%.
Revenue is generated through multi-year firm contracts (typically 3-4 years) awarded via competitive tender to major oil and gas operators and executed jointly under the "OneTeam" integrated operating model with partners Archer, WellTec, IKM Subsea, Bravante, and Oceaneering. Recent commercial wins include a 4-year AKOFS Santos contract with Petrobras (USD 246M total / USD 140M AKOFS share, starting January 2027), a 4-year Aker Wayfarer contract with Petrobras (USD 330M / USD 213M AKOFS share, starting September 2027), and Equinor's 3-year option exercise for AKOFS Seafarer worth approximately USD 300M (commencing late Q4 2025, extending to late Q4 2028). Total contract backlog stood at approximately USD 752 million as of end-January 2026, up from approximately USD 612 million at end-Q2 2025.
The company is a privately held Norwegian joint venture owned 66.66% by Akastor ASA and 33.3% by Mitsui O.S.K. Lines (MOL) following a February 2025 ownership transfer, headquartered in Fornebu, Norway with offices in Sandnes (Norway) and Macaé (Brazil) and operations across Brazil, North Sea, West Africa, and Gulf of Mexico. Geir Sjøberg has served as President & CEO since August 2014; the management team draws prior experience from Transocean, Aker Drilling, and Aker Solutions. Certifications include ISO 9001, ISO 14001, and ISO 45001 HSEQ standards.
AKOFS Offshore firmographics
Firmographics- Name
- AKOFS Offshore
- Legal name
- AKOFS Offshore AS
- Website
- https://akofsoffshore.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- AKOFS Offshore AS is a Norwegian privately-held provider of vessel-based subsea well construction and intervention services, operating three monohull vessels (AKOFS Seafarer, AKOFS Santos, Aker Wayfarer) for oil and gas producers including Petrobras and Equinor, with a contract backlog of approximately USD 752 million.
- Ownership category
- akta.pro rank
AKOFS Offshore industry classification
Industry- Product category
- Offshore Oilfield Services
- NAICS
- Support Activities for Water Transportation (4883), Oil and Gas Field Machinery and Equipment Manufacturing (333132)
- SIC
- Oil & Gas Field Services, Nec (1389), Drilling Oil & Gas Wells (1381)
- akta.pro primary industry
- Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR) (EUALABAI)
- akta.pro secondary industries
- Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ), Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL), Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG)
Keywords
Where AKOFS Offshore is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices5 records
Markets served
AKOFS Offshore business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Vessel-based Subsea Well Services Contracts: Multi-year firm contracts (typically 3–4 years) for vessel-based subsea well construction, intervention and installation services to oil and gas producers. Contracts are won through competitive tender processes. Recent examples: AKOFS Santos 4-year contract with Petrobras worth USD 246 million (USD 140 million AKOFS share) starting January 2027; Aker Wayfarer 4-year contract with Petrobras worth USD 330 million (USD 213 million AKOFS share) starting September 2027; Equinor 3-year option period for AKOFS Seafarer worth about USD 300 million starting late Q4 2025.
- Contract Backlog: Backlog from multi-year firm contracts. Total contract backlog reported as approximately USD 612 million per end of Q2 2025 and approximately USD 752 million per end of January 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Quote-based multi-year vessel contracts |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
AKOFS Offshore product offering
Product offeringCore offering
AKOFS Offshore provides vessel-based subsea well construction, installation and intervention services to oil and gas producers operating in deep and ultra-deep water up to 3,000 meters, using three purpose-built IMO-MODU compliant monohull vessels (AKOFS Seafarer, AKOFS Santos, Aker Wayfarer). The company delivers six service lines — Subsea Light Well Intervention, Subsea Well Construction and Installation, Engineering Solutions, Drilling Services, Plug & Abandonment, and Renewables — and is integrated with operating partners under the OneTeam model to serve clients including Petrobras, Equinor, Aker BP and marine renewables developers.
Product overview
AKOFS Offshore is a single integrated offshore services company (not a software platform) whose offering is organized around three state-of-the-art monohull vessels and six service lines delivered by a highly competent engineering and offshore organization. The three vessel products — AKOFS Seafarer (Well Intervention Unit, IMO-MODU class), AKOFS Santos (Subsea Equipment Support Vessel / SESV), and Aker Wayfarer (advanced multipurpose offshore construction vessel / SESV) — are designed to perform operations in up to 3,000 meters (9,800 feet) of water and together deliver six service offerings: Subsea Light Well Intervention (LWI), Subsea Well Construction and Installation, Engineering Solutions, Drilling Services, Plug & Abandonment, and Renewables. The vessel fleet and engineering competency are tightly interlinked: AKOFS Seafarer is the LWI flagship (used for both riserless and riser-based well intervention, including the recent hybrid battery power installation), while AKOFS Santos and Aker Wayfarer jointly support the Subsea Well Construction and Installation service (X-mas trees, manifolds, modules) for Petrobras in Brazil. Aker Wayfarer in particular extends capability through a unique neutrally-buoyant fibre rope deployment system enabling ultra-deep-water heavy-lift installations. The Engineering Solutions function underpins the fleet with proprietary innovations (SESV concept, monohull riser-based intervention, fibre rope heavy lift), and the OneTeam operating model integrates partners (Archer, WellTec, IKM Subsea, Bravante, Oceaneering) to deliver integrated services from these vessels to clients including Petrobras, Equinor, Aker BP, and others.
Differentiator
Problem solved
Functional benefit
Products and services
- AKOFS Seafarer
- AKOFS Santos (formerly Skandi Santos)
- Aker Wayfarer
- Subsea Light Well Intervention (LWI)
- Renewables
- Subsea Well Construction and Installation
- Engineering Solutions
- Drilling Services
- Plug & Abandonment (P&A)
- Hybrid Battery Power & SCR/ECR Emissions System (AKOFS Seafarer upgrade)
Quantifiable outcome
- More than 400 X-mas trees installed since 2010
- +6 more outcomes
Companies that use AKOFS Offshore
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles2 records
AKOFS Offshore technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
AKOFS Offshore partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core operating partner.
- Bravantecore operating partnerBravante provides marine services as a OneTeam operating partner for AKOFS Offshore's vessel operations in Brazil. They jointly operate the AKOFS Santos (MPSV for Petrobras, 4-year contract starting January 2027) and Aker Wayfarer (SESV for Petrobras, 4-year contract starting September 2027). The collaboration was previously referenced for the 3-year Skandi Santos contract awarded in December 2021.
- IKM Subseacore operating partnerIKM Subsea provides ROV services as a OneTeam operating partner for AKOFS Offshore's vessel operations in Brazil (AKOFS Santos) and on Norwegian Continental Shelf (AKOFS Seafarer). Previously collaborated on the 3-year Skandi Santos contract awarded in December 2021.
- Oceaneeringcore operating partnerOceaneering provides ROV services as a OneTeam operating partner for the Aker Wayfarer SESV operations in Brazil under the new 4-year contract with Petrobras (starting September 2027). Previously referenced for the ~4-year Aker Wayfarer contract commencing in first half of 2023.
- Archercore operating partnerArcher is one of the four OneTeam entities (with AKOFS Offshore, IKM Subsea and Welltec) delivering the integrated LWI service on AKOFS Seafarer for Equinor on the Norwegian Continental Shelf. The OneTeam collaboration was recognised with the OWI Global Awards 2022 'Best Example of Collaboration'.
- Wellteccore operating partnerWellTec (referenced as Welltec in the OWI Awards citation) is one of the four OneTeam entities (with AKOFS Offshore, IKM Subsea and Archer) delivering the integrated LWI service on AKOFS Seafarer for Equinor on the Norwegian Continental Shelf. The OneTeam collaboration was recognised with the OWI Global Awards 2022 'Best Example of Collaboration'.
Scale indicators11 records
Recent moves6 records
Expansion highlights5 records
AKOFS Offshore competitors and assessment
Company assessmentDirect peers
- Solstad Offshore: Norwegian operator of offshore support vessels (AHTS, PSV, subsea construction) serving North Sea, Brazil and West Africa. Direct fleet-comparable peer with overlapping customer base at Equinor and Petrobras.
- Helix Energy Solutions Group: U.S.-listed provider of vessel-based subsea well intervention and robotics services, including the Q4000 and Q5000 monohull well intervention vessels. Closest direct peer to AKOFS Seafarer on the well intervention side, with comparable deepwater subsea intervention capabilities.
- DOF Group: Norwegian offshore vessel operator with a global fleet of OSVs (PSVs, AHTS, subsea construction). Recently restructured; comparable to AKOFS in operating model (multi-vessel, multi-region offshore support) and customer overlap (Petrobras, Equinor).
- Bourbon (subsea services): French offshore vessel operator active in West Africa and Brazil with subsea construction/intervention capabilities. Comparable in operating geography (West Africa) and vessel-based service model to AKOFS.
- Tidewater: U.S.-listed global owner/operator of offshore support vessels serving shallow and deepwater markets worldwide. Comparable business model and customer overlap (IOCs/NOCs in Brazil, West Africa, North Sea, Gulf of Mexico) though operating in shallower-water end of the OSV spectrum.
- Subsea 7: Global subsea engineering, construction and services company with a large fleet of subsea construction and intervention vessels, active in Brazil (Petrobras pre-salt) and the North Sea. Competes with AKOFS for subsea installation, IMR and SURF work on Petrobras and Equinor tenders.
Emerging players
- Seadrill: Recently-restructured offshore drilling contractor with modern harsh-environment drillships and semi-submersibles. A potential substitute for AKOFS' SESV-based X-mas tree installation model if Petrobras or Equinor shift back to rig-based solutions for ultra-deep work.
- Archer: Norwegian well services and platform drilling company and existing OneTeam partner with AKOFS on the Equinor LWI contract. Competes in adjacent well intervention scopes and would be a natural vertical consolidation candidate for AKOFS.
Broad incumbents
- Saipem: Italian offshore engineering and construction major with subsea construction, heavy-lift and pipelay vessels active in West Africa, Brazil and the North Sea. Competes with AKOFS Santos/Wayfarer for ultra-deepwater installation work.
- TechnipFMC: Large integrated subsea and surface services company with deep exposure to Petrobras and Equinor subsea tree/umbilical installations. Competitor on subsea equipment installation scope and a potential substitute for AKOFS' SESV-based installation model.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights8 records
Customer concentration
AKOFS Offshore social profiles
Digital presenceAKOFS Offshore compliance and trust
Trust signalCompliance6 records
AKOFS Offshore financial estimates
Financial estimateRevenue estimate
Valuation estimate
AKOFS Offshore leadership team
Management profileNumber of profiles
Profiles10 records
AKOFS Offshore funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AKOFS Offshore M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AKOFS Offshore
What does AKOFS Offshore do?
AKOFS Offshore provides vessel-based subsea well construction, installation and intervention services to oil and gas producers operating in deep and ultra-deep water up to 3,000 meters, using three purpose-built IMO-MODU compliant monohull vessels (AKOFS Seafarer, AKOFS Santos, Aker Wayfarer). The company delivers six service lines — Subsea Light Well Intervention, Subsea Well Construction and Installation, Engineering Solutions, Drilling Services, Plug & Abandonment, and Renewables — and is integrated with operating partners under the OneTeam model to serve clients including Petrobras, Equinor, Aker BP and marine renewables developers.
Is AKOFS Offshore a public or private company?
AKOFS Offshore is a private company. It is classified as corporate owned and is currently operating.
When was AKOFS Offshore founded?
AKOFS Offshore was founded in 2007. It employs 251 to 500 people.
Where is AKOFS Offshore based?
AKOFS Offshore is headquartered in Oslo, Norway, in the Europe region.
How does AKOFS Offshore make money?
Two revenue lines are on record. Vessel-based Subsea Well Services Contracts are the primary driver. The others are contract Backlog.
Who are AKOFS Offshore's main competitors?
Direct peers on record are Solstad Offshore, Helix Energy Solutions Group, DOF Group, Bourbon (subsea services), Tidewater and Subsea 7. Emerging players are Seadrill and Archer. Broad incumbents are Saipem and TechnipFMC.
Does AKOFS Offshore have an API?
No public API is recorded for AKOFS Offshore.
What industry is AKOFS Offshore in?
AKOFS Offshore's product category is Offshore Oilfield Services. Its primary akta.pro industry code is EUALABAI, Subsea Services & Equipment (Subsea Trees, Umbilicals, Installation, IMR), with a secondary code of EUALABAJ, Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters). Its NAICS code is 4883 and its SIC code is 1389.