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.
about AGR Well Management division.
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.
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