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SpotOn Energy Acquires AGR's UK-Based Well Management Division.

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MANews-(C)2009-2021

Norwegian field development group SpotOn Energy Holding AS has acquired UK-based AGR Well Management Ltd (OSE: AKAST), the well management operations of subsidiary AGR AS, an engineering consultancy, the company said.

As compensation for the transfer, AGR has received 20% ownership in SpotOn Energy, which will strengthen the cooperation between AGR and SpotOn Energy going forward.

AGR Well Management will change its name to SpotOn Well Management. The AGR Consultancy Services UK division will continue under its current ownership servicing international and UK North Sea clients from AGR's Aberdeen based office in the Admiral Court.

AGR is a multi-disciplinary engineering consultancy and software provider that provides its services globally to clients that range from multi-national energy companies to smaller, independent developers as well as the financial investor...

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