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Well Cost and Time Estimation

Before any investment decision is made, stakeholders want clarity over expected costs and timescales. With AGR’s state of the art time and cost estimation software application, P1™,  from our iQx™ platform, businesses are able to make better informed decisions based on a comprehensive analysis of all available data.

Eliminating the shortcuts

Time and cost estimation is often the aspect of well engineering that faces the harshest scrutiny. Estimates require a comprehensive understanding of all areas, risk, logistical arrangements and current market conditions. Experience in delivering a detailed plan really matters.

With established roots in all major oil and gas operational hubs globally, AGR offers independent and trusted well cost and time planning services worldwide. Whether it’s to verify existing plans, review a joint venture or collaborate with an operator to produce estimates, AGR can provide support.

Powerful technology that delivers key insight

Through our innovative technology, P1™, we provide clients with additional insight into project risks. This information is becoming increasingly important in communicating the challenges involved with high-risk operations.

Probabilistic planning tool P1™ is unique to other Monte Carlo simulators, having been purpose built for drilling engineers, by drilling engineers. As a cloud-based software, it’s also accessible anytime, anywhere, provided there is access to the internet.

It creates a suite of automated reports, including a detailed, line-by-line, Authorisation For Expenditure (AFE). These are segregated by cost code, with results easily exported and shared with other stakeholders.

iQx™ P1™ is both flexible and scalable, and used extensively within AGR for wide-ranging assignments – from conceptual planning to detailed design, drilling and completion to workover and abandonment.