Statement by AGR at the 22nd annual Africa Oil Week in Capetown South Africa...

CAPETOWN

We have managed over 500 well projects globally, over 40 of which have been in Africa. Last year, AGR’s Well Management team managed well planning, logistics support and operational execution on projects in Morocco, Tunisia and Benin.

The continued transaction trend of assets on the continent has dominated our reserves evaluation consultancy portfolio, where a wide range of clients, including oil companies, international investors and financial institutions, request Acquisitions and Divestment (A&D) services.

A recent Competent Person’s Report (CPR) for an international exploration company was one of over 250 A&D projects that AGR’s TRACS Evaluations have delivered to the buying and selling community.

Ian Burdis, AGR’s EVP for UK and West Africa said: “Africa Oil Week is arguably the most high profile oil and gas event on the continent, and brings together a unique mix of industry players, leaders and governments to discuss the issues that are at the heart of Africa’s thriving oil and gas scene.

“Africa remains a real business focus area for AGR with our subsurface, drilling and software teams developing services and products that are tailor-made to meet the individual requirements of the local client portfolio.

“Throughout our history in Africa, AGR has been actively contributing to the training and development of local skills by knowledge sharing and the transfer of experience.

“Through the Norwegian Agency for Development Cooperation (NORAD), we assisted the South Sudanese Government with the development of local technical personnel whilst conducting the technical project for the onshore Heglig oilfield. Further examples of knowledge transfer include recent work with the Ghana National Petroleum Corporation (GNPC) and National Petroleum Corporation of Namibia (NAMCOR) involving secondment of technical staff to our offices in the UK.

“Both projects confirm our belief that a local talent pool is critical to business success.”

AGR is currently delivering economics and risk analysis courses in Nigeria, coaching for new developments in East Africa and well engineering classes in Egypt.