Aker Solutions has decided to spin out its geophysical division into new entity Akastor to be created in a split of the Norwegian contractor’s business at the end of this month.

The Aker Geo unit, which employs about 65 staff and provides geophysical interpretation and reservoir modelling services, was deemed by the board to be a better fit with oil services investment outfit Akastor than with the main company, according to a statement.

The decision was “based on an assessment that synergies with Aker Solutions were limited and that Akastor would be a better owner for the unit”, it stated.

Aker Solutions will focus on engineering and field design, mainly for subsea and deep-water projects, while Akastor will provide drilling technology, process systems and oilfield services under the corporate separation aimed at cutting costs and promoting growth of the individual business areas.