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 optimisation 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 lifecycle and decarbonisation 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, specialised 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 optimised operations on behalf of our customers,” said 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, the UK, the US, 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 clients 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 digitalisation capabilities, adding competence and scale to support energy transition technologies, CCUS and wells projects. We look forward to teaming up with AGR to create the next chapter of our companies’ history,” added Dr Ole Rygg of Add Energy.
All existing contracts and commitments will remain intact, ensuring uninterrupted service delivery to clients.
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.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Spring 2023 issue
The Spring 2023 issue of Energy Global hosts an array of technical articles focusing on offshore wind, solar technology, energy storage, green hydrogen, waste-to-energy, and more. This issue also features a regional report on commodity challenges facing Asia’s energy transition.