AGR secures Total Well Management Contract with Statoil
AGR confirms it has been awarded a frame agreement which includes the possibility for Total Well Management services with Statoil worth approximately 100 - 130 million NOK per year (17-21 MUSD/year) .The contract period is for two years with the possibility for an additional two plus two years extensions.
“This is a very encouraging start to the year", responds Executive Vice President in AGR, Sjur Talstad. "We are looking forward to supporting Statoil in their drilling and well operations in a time with increased drilling activity for the industry. Our well management teams are exceptionally experienced when it comes to this type of activity, ensuring our clients achieve enhanced operational performance within a safe environment."
AGR is the world’s largest independent well management organisation and is one of two service providers awarded this type of contract from Statoil.
The primary scope of the contract includes the possibility of executing, planning, operations and post well activity for drilling and well operations out of Stavanger, Stjørdal and the northern areas in Norway. The frame agreement also includes well management support to Statoil's international operations where AGR also can provide support from its international offices including Aberdeen, London, Houston, Perth and Dubai/Abu Dhabi.
Sjur Talstad, AGR’s Executive Vice President, commented: “We are known for operating within very challenging environments across the globe where we provide an innovative and effective approach to our clients. We look forward to supporting Statoil throughout the course of this contract."
He adds that this contract will also result in strengthening of AGR organisations in Stavanger, Oslo and Trondheim.
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Facts about AGR
AGR is a leading provider of services and technology to the international petroleum industry within drilling, subsurface, field development and operations. The Company supports a wide range of operators worldwide; from small to some of the world's largest oil and gas companies. With head office in Oslo, AGR employs more than 1,600 people worldwide. The Company is listed on the Oslo Stock exchange and has offices in Norway, Australia, Azerbaijan, Brazil, Canada, CIS, Malaysia, UAE, Great Britain and the US. The last 10 years AGR has drilled more than 400 wells for operators globally.