AGR Signs Four Contracts for Drilling Risk Mgmt Software

June 11, 2009 at 1:14 am Leave a comment

AGR Petroleum Services has announced contract wins totaling more than £600,000 for its cutting-edge software that will allow operators to maximize performance during well construction projects. AGR’s risk management software, P1™ Version 3.8, enables companies to significantly reduce the time involved during well construction phases.

The following oil and gas companies recently signed contracts to use the software:

  • NEXEN,
  • Fairfield Energy,
  • Petro-Canada and
  • Sonangol.

AGR’s P1™ director Chris Ferrier said: “We have had a fantastic response to the release of the latest version of our software, and we look forward to working with our clients to help them realize the benefits it brings during activity. We have drawn on our extensive experience of global well construction projects to develop P1™ Version 3.8, which gives engineers the greatest opportunity to capitalize on construction activity. We understand that sometimes the most cost-effective option can bring the greatest risks, and so we have designed the software to offer a range of solutions and highlight the level of risk associated with each of these, thereby giving engineers complete control over their projects.”

Unlike traditional risk management tools, P1 Version 3.8 draws on data from previous well construction projects to offer operators a range of solutions to problems that may arise during construction work. It provides the costs associated with these problems, allowing engineers to understand the financial impact of their decision quickly and generate likely outcome scenarios of particular actions.

P1 Version 3.8 is compatible with Windows and is Vista certified. It enables engineers to compare real-time data with the model to monitor construction work as it progresses. In this way, corrective action can be taken at an early stage, keeping costs and lengthy delays to a minimum.

Graham McLaren, senior drilling engineer at AGR Petroleum Services, commented: “This software is already an integral part of the tools we use during well management projects. It gives us the ability to process information much faster and track performance as the well is drilled. As a result, productivity has increased tenfold.”

Companies of all sizes can benefit from the technology with three different software packages available: Express, Workgroup and Enterprise.

www.agr.com

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Entry filed under: Drilling & Completions Solutions. Tags: , , , , , , .

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