As announced earlier, AGR is managing the well construction and operational execution of the Cara well which is located in the production licence PL 636 on behalf of Engie E&P.

The wildcat Brasse, located in the PL 740 and jointly operated by Faroe Petroleum (50%) and Core Energy (50%), will be drilled to test a structure immediately to the south of the producing Brage field (Faroe 14.3%). AGR is the Well Management company providing well construction, logistics and cost management support in addition to operational execution.
 
Svein Sollund, CEO AGR comments, “We are very pleased to be delivering our industry recognised Well Delivery Process to such highly reputable partners like Engie E&P and Faroe Petroleum."

Both Brasse and Cara wells are expected to be spud in Q2/Q3 2016 using the Transocean Arctic rig.