AGR Joins the Marginal Field Delivery Consortium
AGR has signed a collaboration Agreement with ABT Oil and Gas (ABTOG) to join the Marginal Field Delivery Consortium.
ABTOG has been progressing its Initiative for a number of years and has assembled a Consortium of established industry partners focused on the delivery of marginal field projects.
The objective of the Marginal Field Initiative is to develop marginal hydrocarbon fields around the world and unlock these vast resources which could remain undeveloped, as conventional solutions render them uneconomic to produce. Using proven technologies to radically reduce CAPEX and OPEX, ABTOG are able to transform the economics of these undervalued assets and profitably deliver marginal field projects, providing considerable returns to the operators and investors alike.
AGR is joining the Consortium together with Frames. The other Members include ABT Oil and Gas, Kongsberg Maritime, Apollo Offshore Engineering and Braemar Shipping.
The Consortium will deliver services dedicated to the economic development of marginal oil and gas projects, from early production solutions, small or stranded hydrocarbon accumulations, through to life extension for mature fields.
The Consortium is dedicated to do so in accordance with its guiding principles; a key driver being to ensure projects are delivered on schedule and within budget. By doing so, the Consortium can not only unlock marginal field opportunities but deliver the greatest returns.
AGR will provide a range of services to design and deliver well engineering and well project management elements of marginal field development projects. AGR’s focus on maximising safety, cost-efficiency and performance excellence is perfectly aligned with the core values of the Marginal Field Delivery Consortium.
Ian Burdis, AGR’s Executive Vice President, UK & West Africa, said:
“We are delighted to be working alongside ABTOG in the Marginal Field Consortium. AGR have many years’ experience in the design, engineering and project management of well and drilling activities for the international oil and gas industry. ABTOG and AGR believe that their approaches and objectives are aligned and look forward to working together in order to secure and deliver marginal field projects.”
Alan Minty, CEO of ABTOG, commented:
“With AGR joining our Consortium, we have secured a partner that brings a wealth of experience and knowledge that enhances the Consortium’s ability to deliver marginal field development projects. This is an exciting time for the Consortium as the industry seeks new solutions to the severe challenges it is facing. As a Consortium, we are able to provide a coherent vision of how marginal field projects can be transformed and delivered on time and within budget.”
ABTOG is an independent oil and gas company specialising in maximising recovery from the vast, undeveloped hydrocarbon resources that are contained within marginal fields. ABTOG provides project identification, suitability assessment, buoyant technology and investment solutions for oil field development. ABTOG is a joint venture between ABTechnology and Enegi Oil.
Since establishing the Consortium, the members have been working together to pursue suitable projects and, having identified a number of marginal field opportunities which meet the development criteria, ABTOG is in discussions with oil and gas companies to advance these further.
AGR's contact for the project is Chris Rayburn
, BD Manager UK and Africa.
More information about the Consortium can be found here