AGR Signs Contract with Chevron for Ultra-Deepwater Drilling System

AGR Subsea Inc, a subsidiary of AGR Group ASA, has signed a contract with Chevron USA Inc to perform Integrated Project Management and Engineering for the build, deployment and prove-up of the Dual Gradient Drilling System.

This advanced technology has the potential to be an enabling technology for ultra-deepwater assets globally. It is estimated that the system will be deployed within 2011.