Aker Adds to Genesis Investment

Aker has decided to underwrite in full a new equity issue in the UK based Genesis Petroleum Company. Proceeds from the issue will be used for further exploration activity on Genesis‘ UK and Norwegian offshore acreage.

Through its wholly owned subsidiary Aker Capital, Aker will subscribe at least GBP 3 925 000 in the issue. Following this and other parallel transactions in Genesis, Aker Capital will continue to own at least 24.4% of the company.