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AGR's software division expands into Eastern European markets

Friday, February 26, 2016

Global service and software company AGR has taken a strategic step forward by securing a collaboration agreement with Petec Ltd to deliver its expert software technologies in the Commonwealth of Independent States (CIS).

Headquartered in Oslo, AGR already provides well construction and operational project management, reservoir and full-scale engineering consultancy to the North Sea, South Atlantic, Gulf of Mexico, Middle East and Asia Pacific regions. It now aims to further strengthen its position as the preferred software provider to the upstream industry.

As part of this strategy, Moscow-based Petec will be authorised Eastern European distributor of AGR software technologies, which are developed internally by AGR engineers and incorporate feedback from industry users.

Petter Mathisen, Vice President of AGR Software, said: 'We are very pleased to partner with Petec and be able to offer our software products to clients operating in Eastern Europe.

We have already established client relations in Russia with Rosneft and Sakhalin Energy using our P1 risk and performance planning tool.'

AGR has been developing innovative software tools since early 1990s, while the products were organised into an independent business unit in early 2013.

"Our software solutions are designed to help engineering and management teams within operator, E&P and licensee organisations to achieve greater efficiencies in cost savings and improve operational performance.'

'We develop technologies that simplify the automatisation process of well data capture, probabilistic risk/design analysis and cost management. The tools can contribute to significant cost savings and increased productivity through optimised processes and improved knowledge management. The purpose of our software solutions is to enable its users to create value from available data,' added Mr Mathisen.

AGR's current software users include OMV, Shell, DEA, Petronas, and Chevron.

Petec is an oil and gas consultancy, jointly owned by the International Research Institute of Stavanger (IRIS), Norway and regional investors providing geological and operational engineering support on the CIS region.

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