AGR to Grow its Share in Field Abandonment Projects

Norway-based oil and gas service company AGR is aiming to build on a highly successful year of offshore activity by further expanding its involvement in field abandonment projects.

Having delivered several successful plug and abandonment contracts for exploration wells in the North Sea and the Norwegian Sea, the company is looking to grow its share of the global market during 2014.

They have recently been awarded a contract to provide well abandonment project management services for an offshore field in the Asia Pacific region.

The world’s largest independent well management group, AGR enjoyed one of its busiest years during 2013. On average the company has drilled a well every 10 days since 2000 and has established an industry-wide reputation for the speed, efficiency and safety of its operations.

AGR’s management has expressed belief that the flexibility of their approach and experience of drilling in all possible environments, including deepwater, ultra deepwater, HPHT and sensitive and remote locations, positions them as a contractor of choice for operators seeking to close down wells.

CEO AGR Åge Landro said: “There is a growing market demand globally for plug and abandonment services, with many mature fields being decommissioned and a high number of wells that require to be closed down.

“It is an area of offshore activity where we can offer operators experience, high levels of drilling, operational and project management expertise, and a flexible approach to meet specific project requirements. We have already delivered a number of abandonment projects in the North Sea and are very pleased to have recently secured a new assignment in the Asia Pacific area.

“After a busy and successful year in 2013, growing our share of the P&A market is one of our key targets in our strategy for continuing growth.”

January 27, 2014

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