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Statoil Signs up to RMR® in Deal

09 May 2011

International energy company Statoil has signed a two year, NOK66m contract for the Riserless Mud Recovery system (RMR®) from AGR Drilling Services.The deal is for rigs on the Norwegian Continental Shelf. It also includes two optional extension periods of two years each which, if taken, will bring the estimated total value of the contract to NOK200m ($38mUSD).

Statoil is one of AGR's top customers and technology partners. AGR, which has its head office in Straume, Norway, has performed 33 RMR® well installations since 2004 for Statoil.

RMR® has been an industry changer since it was introduced. It enables engineered mud to be used in the top-hole section of a well, with all mud and cuttings being returned to the rig with zero discharge. The top-hole section can be drilled more safely, quickly and with far less impact on the environment.

This latest contract with Statoil also includes the continuation of CTSTM (Cutting Transportation System) operations on two rigs, with provision for AGR to be optional CTSTM supplier on a number of others. Statoil has used CTSTM, which takes cuttings up to 2km away from the well area, on 209 wells since 1998.

Johan Møller Warmedal, Executive Vice President of AGR Drilling Services, said: "It gives particular pleasure to land this agreement with such an important customer. I am delighted that Statoil has once again seen fit to use our innovative technology. The reputation of RMR® continues to grow ever stronger globally and this latest show of confidence from Statoil is a credit to our dedicated, highly experienced team.”