AGR Field Operations awarded Frame Agreement for Operations & Maintenance studies with Statoil

This agreement will supply Statoil with analysis and support to their Capital Value Process for Operational Assurance providing value to the business planning, feasibility, concept and definition phases of operation. The agreement covers Statoil's global operations and includes affiliates and joint ventures over a period of 2 years, with an optional 2 years extension. AGR Field Operations provide Operations and Maintenance services to Oil and Gas operators and investors, as a contract operator and duty holder on 9 onshore and offshore facilities. This places them in a unique position to support Statoil with this strong track record from operations in the Asia Pacific region. In parallel with their Operations and Maintenance services, AGR Field Operations provide Asset Integrity Management services to over 50 offshore facilities in Europe. Their Maintenance Engineering, Corrosion Management, In-Service Inspection and Integrity Management systems are designed to optimise asset integrity based on Criticality rather than routine processes, reducing cost considerably over the life of an asset. With their plans for expanding Operations and Maintenance into Europe, Middle East and Africa, AGR Field Operations see this Statoil frame agreement as an important contribution to fulfilling their strategy. Age Landro, Executive Vice President commented, "The award of this frame agreement is confirmation that our strategy is in line with market needs and, and a validation of our decision to focus on operational support and pre-operational studies in Western Europe. We are delighted that Statoil has again chosen AGR Field Operations as a supplier, recognising our capability and quality of service".

Source: AGR Field Operations Holdings AS
Date: Sep 26, 2011