AGR Software makes key acquisition to deliver digital rig scheduling

Source: press release, 1 June 2021

illustration: AGR
illustration: AGR

In a move to take lead in delivering advances in digital rig scheduling, energy software solutions provider, AGR Software, is to acquire the Deloitte Digital portfolio application, RIG.

The acquisition will expand AGR Software’s portfolio of applications which enable game-changing efficiencies in the energy exploration and production sectors.

AGR Software, which is part of the global energy services partner, AGR, has a number of plug-and-play applications available on its iQx™ platform. The platform helps digitise the well delivery process.

The acquisition of the rig portfolio optimisation tool will in the longer run allow current and new iQx™ users to manage their entire well planning, operations and reporting from one simple platform.

RIG was developed to optimise rig scheduling and to give users complete visibility of their rig portfolio, helping avoid downtime and delays. The application is already proven, having been successfully rolled out on the Norwegian Continental Shelf.

Alongside the iQx™ platform, RIG will give AGR Software a portfolio of cloud-based applications that cover well time and cost estimation, tracking of actual time and cost, following up schedules and reporting of overall project performance. The AGR Software products also allow for increased collaboration between drilling project members and enhanced learning for better decision making.

This acquisition supports the ambitions of AGR Software to become the driving force in standardising and simplifying data management related to well delivery and rig scheduling.

“RIG is an important supplement to iQx™ users, enabling innovation and supporting transparency of well data. The platform enables drilling engineers to simplify their workflows. AGR Software is a rapidly growing business unit within AGR and we are very pleased with the recent addition to their drilling software products,” says Svein Sollund, CEO of AGR.

“Digitalisation for more efficient operations management is a priority in the energy industry. Optimised rig scheduling results in reduced cost and emissions in addition to more efficient planning, logistics and personnel management. Critically, it also gives organisations real-time insight, allowing for better informed, more strategic and commercially viable decisions,” adds Øystein Andersen, VP at AGR Software, (pictured) who commented on the benefits of the acquired application.