AGR has secured a contract with LUKOIL Overseas to optimize the Russian firm's drilling performance.
The contract covers LUKOIL’s drilling operations in several territories internationally, including Middle East, Black Sea, Africa and Central Asia.
AGR will increase LUKOIL’s drilling efficiency by reviewing well planning and drilling programs, conducting drilling and completion engineering, analysis of offset and historical data, and well and rig performance benchmarking.
The intention of the partnership is aligned with LUKOIL’s objective to reduce drilling project operating expenses without compromising on QHSE.
AGR’s Executive Vice President for UK, West Africa and the Middle East, Ian Burdis, said: “Drilling efficiency and cost reduction are key areas of focus across the industry at the moment as the oil price continues to cause uncertainty. We are pleased we are able to offer LUKOIL our technical expertise we have gathered from drilling over 500 well projects globally.”