LONDON — Energy/marine consultancy group ABL Group has struck an agreement to acquire engineering/software provider AGR from Akastor.
The transaction would strengthen ABL Group’s position in well and reservoir consultancy, and its support of offshore operators’ digitalization and decarbonization initiatives.
Oslo-based AGR has five business lines: energy consultancy services, with personnel in Norway, the UK and Australia; well management, with a strong presence in the Asia-Pacific region; wellsite and operations geology, which operates mainly in Norway; reservoir management and asset evaluation, operating in Norway; and software products to support offshore energy industries globally.
Aside from the oil and gas sector, the company provides services related to decommissioning of offshore assets, carbon capture use and storage (CCUS), blue hydrogen, geothermal energy and seabed minerals.
Last year, ABL Group acquired Add Energy, a specialist in asset integrity management, well and reservoir management, and associated software.
ABL said AGR would increase its exposure to the opex-driven phases of offshore energy, including energy transition technologies and projects, and would allow the group to offer resourcing solutions across oil and gas and renewables “at a time when talent scarcity is putting projects and deployments at risk”.
ABL CEO Reuben Segal said, “Although Add Energy and AGR operate in the same industry space, there is currently limited overlap between the two companies…By combining their competence and products, we will be able to offer offshore energy clients an even more comprehensive, integrated service offering.”
Add Energy will become part of AGR, which will continue as a standalone business within ABL Group.