SpotOn Energy Holding AS has completed a transaction with AGR AS to acquire AGR Well Management Limited, the Scotland registered Well Management division of the global multi-disciplinary engineering consultancy AGR.
As part of the transaction, AGR has received 20% ownership in SpotOn Energy, which will strengthen the cooperation between AGR and SpotOn Energy going forward.
This strategic deal significantly contributes to SpotOn Energy’s expansion ambitions and its ability to deliver sustainable value to its owners, employees and communities.
SpotOn Energy is a Norwegian field development company with interests in the UK. The company has a novel approach to acquiring and developing oil and gas assets. As a result of the transaction, SpotOn Energy will have access to drilling project management and well engineering expertise and knowledge gained throughout more than 170 wells delivered by the Aberdeen-based AGR Well Management team.
AGR continues to run its Well Management operations through their offices in Perth, Australia. The AGR Consultancy Services UK division maintains under its current ownership servicing international and UK North Sea clients from AGR’s Aberdeen based office in the Admiral Court.