Petter Mathisen, AGR VP of Software Solutions (photo: AGR)

Maersk Oil has awarded a Software as a Service (SaaS) contract to AGR Software to deliver its P1™ software.

As a result, P1™ will play a key role in screening, planning and tracking of performance in Maersk Oil well operations, allowing the oil company to maximise their communication of operational performance as well as supporting well time and cost planning.

The philosophy behind P1™ is that the value of a project is enhanced when E&P companies plan correctly and understand risk and opportunity. The system allows informed decisions to be made on all aspects of well operations and generate instant reports for management approval.

AGR’s P1™ uses Monte Carlo simulation method and can be used for all different types of drilling and well operations, including completion, well intervention, slot recovery and abandonment.

Tags: AGR Software, Maersk Oil