Statoil Extends Surface Management Contract with AGR

Statoil has exercised options in the current framework agreement with AGR Field Operations for surface management services. The extension has an estimated total value of NOK 40 million over a period of 24 months.

AGR Field Operations will provide Surface Management services including AGR's proprietary SOLV™ concept to 13 offshore installations and the Sture Onshore terminal. In addition to this scope of work, AGR already has a similar contract with Statoil covering their remaining 31 installations on the NCS.

Åge Landro, Executive Vice President of AGR Field Operations commented, "This extension will allow us to continue the current relationship between AGR Field Operations and Statoil all across their operations in the North Sea region. By extending this contract, Statoil confirms that our products and services are valuable in the effective management of their assets."