Norway’s AGR, part of the energy and marine consultancy ABL Group, has been entrusted with delivering annual independent reserves evaluation and a competent person report (CPR) to OKEA, a compatriot oil and gas player.

This frame agreement with OKEA for the scope of work on the Norwegian Continental Shelf (NCS) will see AGR provide a certification of the Oslo-listed mid- and late-life operator’s mandatory annual statement of reserves and resources.

ABL’s affiliate explains that its assignment, which is valid for four years and includes options to extend it for two years at a time, encompasses all operated, partner-operated, and under development assets.

According to the company, the reserves valuation team applies proven reserves and resources evaluation methodologies and internationally accepted industry standards to estimate current and future oil and gas production volumes, analyzing associated uncertainties, fiscal frameworks, and environmental conditions.

Svein Sollund, CEO of AGR, commented: “This frame agreement with OKEA underlines our reputation for delivering independent reserves assessments which are crucial in strategic development in energy companies asset portfolio.

“Our multi-disciplinary approach ensures that all technical and commercial aspects of the reserves and resources are fully considered within the audit and conveyed to the client.”

While AGR delivered a technical peer review of two carbon storage licenses in the Norwegian North Sea a few months ago, OKEA made arrangements with Aker BP to acquire an interest in a prospect in the Norwegian North Sea only months after agreeing to exchange partial stakes in two prospects with DNO.

𝐃𝐨 𝐲𝐨𝐮 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐠𝐫𝐚𝐛 𝐭𝐡𝐞 𝐚𝐭𝐭𝐞𝐧𝐭𝐢𝐨𝐧 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐭𝐚𝐫𝐠𝐞𝐭 𝐚𝐮𝐝𝐢𝐞𝐧𝐜𝐞 𝐢𝐧 𝐨𝐧𝐞 𝐦𝐨𝐯𝐞?

𝐇𝐮𝐫𝐫𝐲 𝐮𝐩 𝐚𝐧𝐝 𝐭𝐚𝐤𝐞 𝐚𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐮𝐦𝐦𝐞𝐫 𝐬𝐚𝐥𝐞 𝐝𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐟 𝐮𝐩 𝐭𝐨 𝟓𝟎% 𝐨𝐧 𝐚𝐝𝐯𝐞𝐫𝐭𝐢𝐬𝐢𝐧𝐠 𝐩𝐚𝐜𝐤𝐚𝐠𝐞𝐬!