AGR unveils two more multi client North Sea drilling programmes
Tuesday, November 21, 2006
AGR Peak Well Management, part of the Norway-based Ability Group ASA oil technology and services group, is to undertake two new drilling programmes during 2007 involving nine wells for six independent oil companies operating in the UK sector of the North Sea.
The projects, involving total expenditures of more than £100 million, will be carried out over a six to seven month period using two semi-submersible drilling rigs operated by Transocean Offshore (North Sea) Limited and Dolphin Drilling Limited. AGR Peak Group will provide full well project management, including rig and support services, for the operation.
The programmes will be run in parallel, one starting circa April 2007 and the other starting circa May. The companies involved in the multi-client programmes are:
Antrim Resources (N.I.) Limited (three wells);
Nautical Petroleum plc (two wells);
Bow Valley (one well);
Vermillion Rep SAS (one well);
Ithaca Energy (UK) Limited (one well); and
Xcite Energy Resources Limited (one well).
The drilling campaigns will be conducted on licences in the central and northern areas of the North Sea.
In August, it was announced that AGR Peak would provide essential services for the drilling of at least 13 offshore exploration and development wells in Australia under a major multi-well, multi-client well construction programme using the newly-built WilCraft jack-up rig. This operation, on behalf of at least four operators, is due to begin early in 2007.
AGR DPT has also announced a three-year contract for the semi-submersible Bredford Dolphin rig involving the drilling of up to 25 exploration wells for a consortium of seven oil operators. The consortium comprises: BG, DNO, Endeavour, Lundin, Marathon Petroleum, Pertra and Revus. The rig has been taken to Poland for modifications prior to its assignment on the Norwegian Continental Shelf.
Sverre Skogen, AGR’s Chief Executive Officer, said:
“These new drilling campaigns demonstrate that, in this mature market, co-operative multi-client ventures are the way forward for many independent oil companies. Through AGR Peak Well Management and AGR DPT we have established ourselves as the market leader for such multi-well, multi-client well management programmes.”
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