Statoil Extends Frame Agreement with AGR for Another Two Years

The reference is made to an announcement published earlier in 2012 where Statoil awarded AGR a Well Management contract with options. AGR confirmed that Statoil has now exercised the first two-year option under the frame agreement until January 25, 2016.

The initial contract between AGR and Statoil is worth approximately 100 – 130 million NOK per year (17-21 MUSD/year).

The primary scope of the contract includes executing, planning, operations and post well activity for drilling and well operations out of Stavanger, Stjørdal and the northern areas in Norway.

The agreement includes well management support to Statoil’s international operations where AGR can also provide support from its international offices including Aberdeen, London, Houston, Perth and Dubai/Abu Dhabi.

According to Sjur Talstad, AGR’s Executive Vice President, the contract strengthened AGR organisations in Stavanger, Oslo and Trondheim.

November 05, 2013; Image: AGR