AGR Group adds to its UKCS Rig Count – Sedco 704 and Ensco 85

AGR Group (OSE:AGR) announced today that the Sedco 704 semi-submersible rig sailed from Invergordon to commence an eight well multi-client campaign in the UK Sector of the North Sea, and that it had also chartered the Ensco 85 for a single well campaign for Sterling Resources. The combined project value of the programmes is in excess of £100 million.

The Sedco 704 programme currently has six subscribed Operators, including Serica Energy, Dana Petroleum, Fairfield Energy, Century Exploration and OMV and is scheduled to extend to 12 months.

The Sedco 704 recently underwent major upgrades to its drilling equipment and accommodation modules and is expected to spud the first well in the sequence this week.

AGR Group’s Petroleum Services division will provide complete well project management services to the operators from design and planning through equipment and services supply to management of operations.

The Sedco 704 and the Ensco 85 make a total of four drilling units currently operated by AGR in the UKCS and adds to the worldwide fleet of managed rigs for the Group.

AGR Petroleum Services’ UK Operations head Ian Burdis commented, “The addition of these two units to the AGR fleet of rigs in the North Sea is further testament to our ability to add value and achieve the objectives of our Clients. I am confident in the expertise and ability of our Well Teams to continue delivery of our excellent performance record reflected in current operations. I look forward to the continued growth of our Well Management division”.