Norwegian oil services firm AGR nearly doubled its income within the 12 months ending December 2013, closing the financial year on 208million Norwegian Krones (£20.7million) EBIDA.
The increase from 110million in 2012 was generated by the company’s financial and structural reorganisation in the first quarter of last year, the firm said.
The company upped its exploration and production activity in 2013 with new wells drilled in West Africa, the Mediterranean and its first wells in the Barents Sea, as well as establishing its own specialised rig team to address the shortage of drilling resources in the region.
For 2014 ARG is continuing the second Bredford Dolphin drilling campaign, started in October last year, working on plug and abandon projects in Asia Pacific and an extension of the Statoil Frame Agreement for well management services; while its Aberdeen-based Well Management team is planning for upcoming drilling campaigns in Malta and Morocco.
