AGR, Add Energy combine drilling, wells services to support oil, gas industry
(WO) – Multi-disciplinary energy and software specialists AGR and Add Energy are combining their expert services in drilling, wells, and reservoirs, and energy transition technologies, CCUS and geothermal, under the AGR brand.
This move follows the recent acquisition of AGR and Add Energy by global energy, marine and engineering consultants ABL Group ASA. Both strategic acquisitions have bolstered the group's comprehensive suite of services to drive optimization and efficiencies across oil and gas operations and the wider value chain.
AGR delivers drilling project management, well engineering, resource solutions, reservoir management and asset evaluation, wellsite and operations geologists, and software to support the oil and gas life cycle and decarbonization solutions.
This consolidation broadens AGR’s overall service portfolio, bringing added value to clients and projects across the energy industry, with the combination of Add Energy’s teams, expertise and proprietary software within drilling intervention, specialized expertise in well servicing, well control and blowout contingency and in safety and risk management.
“Bringing Add Energy’s drilling and wells teams into AGR is a strategic move rooted in shared values and complementary strengths and service offerings of two industry leaders. By combining 70 years’ operational experience, knowledge and resources in well management and engineering, we create a partnership that positions us at the forefront of the energy industry. Add Energy’s well control, blowout contingency, and safety and risk management solutions strengthen AGR's overall service portfolio, allowing us to span the entire project lifecycle of wells, and enables even more efficient and optimized operations on behalf of our customers,” says Svein Sollund, CEO of AGR.
AGR and Add Energy Wells share a complementary geographical footprint. The new AGR will have offices in key energy hubs such as Norway, UK, USA, Australia, Malaysia, and the Middle East region, allowing the combined teams to collaborate in-house and build relationships.
In total, the combined AGR will consist of over 400 bespoke professionals working on client projects across the globe. The synergy will also create increased opportunity for employee professional development, through access to new service lines and markets for AGR and Add Energy colleagues alike.
“By combining AGR and Add Energy Wells, we are strengthening our total suite of software products and digitalization capabilities, adding competence and scale to support energy transition technologies, CCUS and wells projects,” says Dr. Ole Rygg of Add Energy.
Add Energy’s asset integrity management division will not be consolidated into AGR, but will remain a service line within the international energy and marine consultants ABL.