AGR Group Exits Downturn with Ambitious Growth Plans - AGR - Upstream Services, Training & Software
Wells & HSEQ
bredford dolphin 1180
topstrip 0014 ps forside-bilde
AGR Consultancy
agr energy web and ppt copy2
816 thumb
Facilities Solutions
TRACS Training
AGR Group Exits Downturn with Ambitious Growth Plans
Published 03.05.2011
AGR Group, the Norwegian supplier of services and technology to the oil and gas sector, released its annual report today 29 April. At the end of 2010 the Group reports EBITDA of 304 million NOK. This is up from 35 million NOK in 2009.

sveinsollundGroup CFO Svein Sollund said: “During the economic downturn we made some major structural changes to AGR Group, dividing it into three units – Petroleum Services, Drilling Services and Field Operations.

“Today we can confirm that these decisions have paid off. We have emerged strengthened from the financial storm and entered a period of growth,” he said.

“I am now confident growth across the group will escalate. The market is becoming strong and we have the best people, the latest technology and a wealth of experience.”

Despite consolidation across the group, AGR focused its investment in R&D. In 2010 this strategy paid off with the launch of Neptun, which takes away the need for divers  to do pipe inspection.  This has revolutionised its area to critical acclaim.

AGR Group has drilled 400 wells in ten years, including the worlds’ s deepest well. It has conducted 1,000 reservoir studies and 140 Riserless Mud Recovery (RMR) operations in seven years.  Last year the company acquired a historic contract with Statoil for inspection services on 24 installations for at least four years.

Please find the AGR 2010 Annual report linked here.

For further information about AGR Group contact

Svein Sollund –, 918 06 910
or visit

< Back

Latest news

2016-10-13 — AGR announces New Helm of Well Management business in Norway
Read More
2016-10-12 — Knowledge Management in Africa
Read More
AGR. Pioneering Achievments™
© AGR | All rights reserved. 2016. Norway | UK | America | Asia Pacific | UAE | Colombia