AGR Petroleum Services to Support Premier Oil's North Sea Assets

AGR Petroleum Services secured a contract worth around £1million to support North Sea operator Premier Oil in the subsurface management of its newly acquired assets. TRACS International Consultancy, a wholly owned subsidiary of AGR Petroleum Services, will execute the reservoir management work throughout 2009 using its skilled team of geoscientists and engineers, based in AGR's Union Plaza offices.

"We are delighted to have been awarded this significant contract with its challenging and varied technical content. Our reservoir teams will work closely with the management and operational groups in Premier Oil to deliver development solutions in the short term and to identify future opportunities to improve recovery in these fields," stated Mark Cook, Director of the UK Reservoir Management division.

"When the time comes, we aim to provide Well Management solutions to Premier Oil to supplement our current Reservoir Management services."

Through its acquisition of Oilexco earlier this year, Premier Oil has significant interests and operatorship in Central North Sea assets including BrendaBalmoral, Nicol and Shelley, along with regional exploration interests. AGR PS will provide full reservoir management services for these assets as Premier Oil moves to recruiting an in-house team.

Mark Cook, Director of the UK Reservoir Management division of AGR Petroleum Services stated that AGR Petroleum Services acquired TRACS International Consultancy in 2008, and is building its position as an integrated provider of reservoir, well and field development expertise. The company moved into the Union Plaza office in autumn and has a combined reservoir and well management staff in excess of 100. The company also runs successful operations in London, Moscow, Houston, Almaty, Dubai, Perth, Oslo and Stavanger.