AGR agrees to UK well management terms

AGR Petroleum Services has a Letter of Intent with Awilco Drilling to provide well management services on the semisubmersible drilling rig WilPhoenix.

Offshore staff

OSLO, Norway -- AGR Petroleum Services has a Letter of Intent with Awilco Drilling to provide well management services on the semisubmersible drilling rig WilPhoenix. The $7-million agreement covers one firm well with six optional wells on the UK continental shelf. The contract should start early in May.

WilPhoenix is in the closing stages of an upgrade program at Remontowa Shipyard in Poland, and is due to be delivery by end-March.

Sjur Talsdad, CEO of AGR Petroleum Services said: “Working on board the newly refurbished drilling rig will give our engineering teams a modern and cutting edge environment in which to operate.”

AGR Petroleum Services has drilled over 400 wells in the past decade including about 140 in the North Sea.

02/03/2011

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