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1/23/2012 - AGR INKS FRAME AGREEMENT FOR WELL MANAGEMENT WITH STATOIL |
| AGR confirms has been awarded a frame agreement which includes the possibility for total well management services with Statoil worth approximately NOK100 million to NOK130 million per year ($17 million/year to $21 million/year). The contract period is for two years with the possibility for an additional two-plus-two years extensions.
The primary scope of the contract includes the possibility of executing, planning, operations and post well activity for drilling and well operations out of Stavanger, Stjordal and the northern areas in Norway. The frame agreement also includes well management support to Statoil’s international operations where AGR also can provide support from its international offices including Aberdeen, London, Houston, Perth and Dubai/Abu Dhabi. |
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