AGR has secured a further contract award for its well intelligence software solution, iQx, with LUKOIL Overseas North Shelf AS.
The latest deal follows previous contract awards in 2014 with Det Norske Oljeselskap, VNG (Norge), OMV (Norge) and Lundin Norway.
According to AGR, iQx software was designed to simplify and increase efficiency of the planning and execution of drilling wells.
Currently the iQx software application incorporates well data and experience on approximately 6,000 wells drilled on Norwegian Continental Shelf to increase the quality of the feasibility phase in drilling projects.
The contract award is worth NOK 1 million.