Under the frame agreement, AGR will provide a certification of OKEAs mandatory annual statement of reserves and resources. The scope covers all operated, partner-operated, and under development assets. The agreement is valid for four years and includes options to extend it with two years at a time.
AGR’s reserves valuation team applies proven reserves and resources evaluation methodologies and internationally accepted industry standards to estimate current and future oil and gas production volumes. They also analyse associated uncertainties, fiscal frameworks, and environmental conditions.
“This frame agreement with OKEA underlines our reputation for delivering independent reserves assessments which are crucial in strategic development in energy companies’ asset portfolio. Our multi-disciplinary approach ensures that all technical and commercial aspects of the reserves and resources are fully considered within the audit and conveyed to the client,” says Svein Sollund, CEO of AGR (pictured).
We have been providing reserves and resource evaluations and end of year certification to global energy companies for over three decades, delivering reports to stock exchanges, M&A and in lending processes in both Scandinavia, America, and Australia. The multi-disciplinary consultancy is also recognised as independent asset auditors by multiple banks in these regions.
AGR has also reviewed and developed reserves reporting guidelines for energy companies and national regulatory bodies.
