AGR GROUP ASA
AGR addresses the challenges of E&P market with a holistic approachPublished 18.01.2017
Our CEO, Svein Sollund, talks about the outlook for the upcoming year.
AGR - the global energy services and software company, focuses on adding value to its clients' assets by providing integrated engineering skills and software technologies covering the entire upstream value chain. In the current oil price climate, the upstream business requires careful technical and economic planning and a high standard of operational execution to be sustainable. The decision framework for well delivery processes or field development plans is about much more than technical engineering. It's about cost-effective solutions that are safe and flexible enough to accommodate operational and geological production uncertainty. AGR is focused on our clients' upstream sector needs, providing engineering solutions within software, drilling project management and well design, logistics, HSEQ, asset evaluations and reservoir management, field development and facilities managemen t, tailored training through its TRACS Training division, and delivering consultancy manpower. Svein Sollund, CEO of AGR, commenting the company's outlook for the upcoming year said, 'Against a backdrop of market uncertainty and a plummeting oil price, AGR continues to offer its clients end-to-end field lifecycle services enabling reliable and cost effective solutions to price sensitive challenges. Over the last 12 months, AGR has been awarded contracts with Wintershall, AKER BP, Kinsale Energy, Ineos, Woodside, Petrogas, DNO, ADNOC and MOL Energy to name just a few. We've also seen increased project flow from the regulatory authorities. For example, our Reservoir Management team has been confirmed as the accredited assets evaluator of oil and gas operators by Mexico's Hydrocarbons National Committee (CNH). We are also working with the Norwegian state-owned Gassnova on providing technical expertise across geoscience, reservoir and drilling disciplines during the development phase of the country's CCS plan. Similar to many other players in our industry, we have been working with restructuring our internal processes and organisation to improve efficiency in our delivery. Also, several initiatives have been undertaken to adjust the company financially to current market conditions. With confidence from our owners and stakeholders, AGR has built a financially solid position, maintaining our capability to service our clients and be their trusted partner in billion dollar projects. Our Software division has had a continuous positive development receiving the highest recognition earlier this year by being awarded the Gazelle company title in Norway for their solid growth and doubling the turnover since the unit was commercialized several years ago. In addition, the Software team recently announced that it had entered a strategic alliance with its partners to drive digitalisation in the oil and gas industry. The Scope of the first project with Norwegian operator AKER BP is currently being drafted and will see automated processes being created to improve the company's cost and operational efficiencies.' AGR will be celebrating its 30th operating anniversary this year.
Our CEO, Svein Sollund, talks about the outlook for the upcoming year.
AGR - the global energy services and software company, focuses on adding value to its clients' assets by providing integrated engineering skills and software technologies covering the entire upstream value chain. In the current oil price climate, the upstream business requires careful technical and economic planning and a high standard of operational execution to be sustainable. The decision framework for well delivery processes or field development plans is about much more than technical engineering. It's about cost-effective solutions that are safe and flexible enough to accommodate operational and geological production uncertainty. AGR is focused on our clients' upstream sector needs, providing engineering solutions within software, drilling project management and well design, logistics, HSEQ, asset evaluations and reservoir management, field development and facilities managemen t, tailored training through its TRACS Training division, and delivering consultancy manpower. Svein Sollund, CEO of AGR, commenting the company's outlook for the upcoming year said, 'Against a backdrop of market uncertainty and a plummeting oil price, AGR continues to offer its clients end-to-end field lifecycle services enabling reliable and cost effective solutions to price sensitive challenges. Over the last 12 months, AGR has been awarded contracts with Wintershall, AKER BP, Kinsale Energy, Ineos, Woodside, Petrogas, DNO, ADNOC and MOL Energy to name just a few. We've also seen increased project flow from the regulatory authorities. For example, our Reservoir Management team has been confirmed as the accredited assets evaluator of oil and gas operators by Mexico's Hydrocarbons National Committee (CNH). We are also working with the Norwegian state-owned Gassnova on providing technical expertise across geoscience, reservoir and drilling disciplines during the development phase of the country's CCS plan. Similar to many other players in our industry, we have been working with restructuring our internal processes and organisation to improve efficiency in our delivery. Also, several initiatives have been undertaken to adjust the company financially to current market conditions. With confidence from our owners and stakeholders, AGR has built a financially solid position, maintaining our capability to service our clients and be their trusted partner in billion dollar projects. Our Software division has had a continuous positive development receiving the highest recognition earlier this year by being awarded the Gazelle company title in Norway for their solid growth and doubling the turnover since the unit was commercialized several years ago. In addition, the Software team recently announced that it had entered a strategic alliance with its partners to drive digitalisation in the oil and gas industry. The Scope of the first project with Norwegian operator AKER BP is currently being drafted and will see automated processes being created to improve the company's cost and operational efficiencies.' AGR will be celebrating its 30th operating anniversary this year.
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AGR Group ASA published this content on 18 January 2017 and is solely responsible for the information contained herein.
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