AGR to support Colombia’s development of significant heavy oil resources

AGR announced that it has finalised a contract with Colombia’s Agencia Nacional de Hidrocarburos (ANH) supporting further the company’s growth strategy in the South American region.
AGR team will provide ANH a full scale review of global fiscal incentive schemes that promote enhanced oil recovery (EOR) and secondary recovery, to support the development of Columbia’s multi-billion barrel heavy oil resource base.
Agr 114 AGR’s EVP for the Americas region, Scott Thetford, said : “Maximising economic recovery from heavy oil is indeed a challenge, but it’s one that our teams internationally are perfectly placed to address. We have significant experience in EOR and secondary recovery projects and a deep understanding of the impact of different fiscal instruments on project economics.
Our technical and commercial engineering teams are very excited about the opportunity to undertake such detailed research to support Columbia’s economic growth.

“Columbia is one of the world’s leading emerging markets and this partnership is the latest step in a series of carefully planned moves by the government to grow the country’s oil and gas industry.
“The contract with the ANH is in line with AGR’s regional growth strategy. We have identified significant opportunities for our entire portfolio of services covering the asset life cycle in the Columbian market over the next two years.
“We very much look forward to working with the Columbian authorities on this important project, and I look forward to seeing our South American hub which we opened in Bogota last year develop over the coming months.”

The company currently works with Ecopetrol Americas to set up their Global Offshore Drilling Centre.
The AGR Software division is piloting its data management solution iQx for implementation within Ecopetrol’s well examination programmes.
Source: AGR
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