Oilfield service firm AGR has agreed a framework agreement with recently founded Norwegian oil development firm Okea.
Okea was founded in Trondheim in 2015 with the aim of finding cost effective development and operation systems for currently undiscovered discoveries on the Norwegian Continental Shelf. Its CEO is Erik Haugane, who started his career as geologist and has worked at PGS, Pertra, which he founded, and Det Norske, as CEO until 2012. Since Det Norske he's worked at state industrial firm Siva, Statkraft, and is chairman at other companies.
It says there are millions of barrels of undeveloped oil that it wants to bring on stream through strategic cooperation with key service companies.
Morten Heir, AGR’s VP of Reservoir Management, said: “We are excited to have signed the frame agreement with OKEA and to be part of the company’s ambitious business model.
"Our first assignment covers supporting OKEA in their field development and reservoir evaluation studies.”