Akastor’s Wellsite Geology Service Company First Geo To Combine With AGR

Akastor ASA said Dec. 7 it will create a leading provider of well-, reservoir- and software services through the combination of AGR Bidco AS and the Norway-based oil services investment company’s subsidiary First Geo AS.

The combination of AGR Bidco—a leading well, plugging and abandoning and reservoir service company—with Akastor’s wellsite geology service affiliate was made through agreements entered between Akastor and AGR stakeholders Silverfleet Capital, DNB Bank ASA and Nordea Bank Abp.

AGR, which has offices in Oslo, Stavanger, Aberdeen, Guilford, Houston, Dubai and Perth, has drilled more than 530 wells in 23 countries for 104 clients and conducted more than 1,500 reservoir studies. First Geo has offices in Oslo and Stavanger and is the leading provider of operation and wellsite geology services on the Norwegian Continental Shelf.