AGR to provide Sakhalin Energy with latest version of P1™ software

Global oil and gas service provider AGR has announced that its software solutions division had signed its first contract with Sakhalin Energy. The three-year deal includes the latest version of its P1™ software, as well as maintenance and support services.

This software allows operators to maximise performance during well-construction projects.

AGR relaunched P1™ Version 4.0 last spring. The latest version draws on data from previous well-construction projects to offer operators a range of solutions to problems that may arise during construction work. It also provides information on the net effect of changes, allowing users to understand the financial implications.

Petter Mathisen, vice president of AGR’s software solutions division, said: “We are delighted to have landed this significant contract with Sakhalin Energy.

“This contract adds to AGR’s position in Russia where currently Rosneft is using P1™, and we are hoping this latest win will lead to more projects in the country.

“When we first launched P1™ Version 3.0 in 2009, it was revolutionary compared to existing risk-management software.

“The philosophy behind this product is that the value of a project is enhanced when operators plan correctly and understand risk and opportunity.

“Usability and user-friendliness is key to P1™ Version 4.0.”

AGR is a leading independent services and technology company and operates in all regional main oil hubs worldwide.

Sakhalin Energy is the operator of the Sakhalin-2 project. The company was formed in 1994 to develop the Piltun-Astokhskoye oil field and the Lunskoye gas field in the Sea of Okhotsk offshore Sakhalin Island in the Russian Far East. Its shareholders are Gazprom (50% + 1 share), Shell (27.5% – 1 share), Mitsui (12.5%) and Mitsubishi (10%).

Press Release, April 07, 2014

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