AGR scoops reservoir management deal with Norway’s petroleum regulator
- Business & Finance
AGR, a well construction and engineering project management, reservoir and field management services company, has signed a framework agreement for reservoir management with the Norwegian Petroleum Directorate (NPD), the country’s petroleum resources regulator.
AGR’s agreement with the NPD would see the delivery of reservoir management studies in subsurface technology, reservoir geology, and reservoir engineering over a two-year period, the company said on Monday. The contract between the two also contains options for extension.
Morten Heir, VP of Reservoir Management at AGR, said: “With this frame agreement, AGR will support the NPD in maximizing Norway’s extraction of its oil and gas resources.”
The company added that the award was one of two recently secured frame agreements with the NPD. The second covers providing engineering consultancy within drilling and well technology.
AGR cooperated with the agency in the past as well through a two-year deal for geology and reservoir engineering, including reservoir modeling, petrophysics, reservoir simulation and increased oil recovery.
Apart from the contract with the NPD, AGR won several contracts over the past two months including work on the Haven accommodation rig bound for the Johan Sverdrup field and two deals with Wintershall, one for software provision on the Maria field and one for a feasibility study in the Barents Sea.