14 October 2014, Sweetcrude, Lagos – AGR has joined as technical partner in a bid consortium to acquire OML 29 onshore Niger Delta Oil blocks from Shell.
Aiteo E&P which has significant experience in the Niger Delta, has taken a majority shareholding in the consortium.
The technical scope will be carried out by AGR’s Facilities Solutions. AGR’s Facilities Solutions delivers subsea engineering services and provides optimum field development solutions to the upstream oil and gas industry. The division recently delivered engineering services on the Brynhild field development project managed by Lundin Norway.
Inge Holm, Vice President of AGR Facilities Solutions, said: “This is an exciting and very important prospect for us. The Shell assets contain a large amount of reserves and will give a good return to shareholders. When successful, the deal will also signal a significant contract for us.”
AGR as technical partner will be a key player in the future development of the asset which currently has a combined production of around 100.00 barrels per day.
Last year, Facilities Solutions announced aggressive growth plans in the APAC region by enhancing its subsea project management offering from its Perth office.