Byford Dolphin rig begins seven month multi client programme, starting in the Bay of Biscay

04.09.2007

AGR Group (OSE:AGR) announced today that the Byford Dolphin semi-submersible rig has spudded the first well in its AGR Group managed seven month, multi-well, multi-client programme in the Bay of Biscay, offshore south-west France

This well will be the first well to be drilled offshore France since 1998 and is being drilled on behalf of the operator, Vermillion Energy Trust.

The remaining wells in the programme will be drilled in the North Sea for, amongst others, operators Nautical Petroleum plc, Xcite Energy Resources Limited and Genesis Petroleum Corporation plc. 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.

AGR Group announced last month that another rig in the Dolphin fleet, the Bredford Dolphin, had begun a three-year multi-well AGR Group managed programme on the Norwegian Continental Shelf involving seven oil companies.  AGR Group now has four multi-client, multi-well campaigns in operation in Australia and North West Europe.

Commenting on the drilling in the Bay of Biscay, AGR Well Construction Division Manager, Ian Burdis, said:

”We are excited to be part of the first drilling activity offshore France for nearly ten years and to be running four multi-client, multi-well programmes concurrently. There is strong demand for our managed drilling programmes which form an important component in the delivery of the exploration, appraisal and development programmes of many Operators with shorter duration or intermittent activities. These aggregated programmes created by AGR Group allow these Operators access to drilling capacity which is only available under long term contracts.”