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LIVE

Monday, 21 July, 2008, 00:40 GMT | more prices >>

Extra time for Transocean Prospect

By Upstream staff

Oil services player AGR Group has seen its contract for the semi-submersible drilling rig Transocean Prospect extended until September, it said today.

The move will see AGR manage at least five extra wells for clients Antrim, Bow Valley, Granby and Nautical this year.

The combined project value of the extension to the rig contract is over £70 million ($137.1 million).

AGR's head of well management Ian Burdis said: "With eight rigs now being simultaneously managed globally, AGR has established its credentials as a major independent well management group with significant capability."

At the conclusion of the new contract in September, the Transocean Prospect will have been contracted to AGR for 16 months.