AGR sets sights on managing pressure

AGR

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Erik Means

 30 August 2012 17:03 GMT

Oilfield services group AGR has joined forces with Statoil to develop managed pressure drilling (MPD) technology for use on floating rigs.

The two players hope the project will eventually enable significant cost savings on production drilling and even greater benefits from increased production revenues from subsea wells.

The first phase of AGR’s deal with Statoil is valued at Nkr 31 million ($5.1 million) and builds on the contractor’s EC-Drill system, a form of dual gradient drilling which was recently put to use on a pair of deep-water wells, for Repsol and Petronas respectively, off Cuba.

The MPD work for Statoil will also lean on the Low Riser Return System developed by Ocean Riser Systems, which merged in July with AGR subsidiary…

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