Norway-based oil and gas service company AGR has announced a further contract award for its well intelligence software solution, iQx™, with LUKOIL Overseas North Shelf AS.
The contract is worth 1 million NOK ($132 100).
AGR’s iQx™ software, which was commercialised in 2013, was designed to simplify and increase efficiency of the planning and execution of drilling wells. It utilises public technical and operational data from all wells drilled on the Norwegian Continental Shelf.
The latest deal follows previous contract awards in 2014 with Det Norske Oljeselskap, VNG (Norge), OMV (Norge) and Lundin Norway.