AGR has signed an agreement with Sval Energi to provide independent assessments of the Norwegian energy company’s oil and gas reserves and resources.
Under the five-year Frame Agreement, AGR’s Reservoir Management & Asset Evaluations business unit will deliver Competent Person’s Reports that independently assess reserves and contingent resources.
A Competent Person’s Report (CPR) is required when raising money on the capital markets or to support merger and acquisition (M&A) activity.
Applying proven reserves and resources evaluation methodologies and internationally accepted industry standards, AGR’s reserves valuation team estimates current and future oil and gas production volumes, analyses uncertainties and the fiscal environment in addition to environmental conditions.
Erik Lorange, Vice President Reservoir Management at AGR, said: “This Frame Agreement with Sval Energi underlines our reputation for delivering independent reserves assessments which are crucial when raising capital or doing deals.
“We have a long and successful partnership with Sval, one of the largest exploration and production companies in on the Norwegian Continental Shelf. Our team has supported Sval on major transactions which have resulted in its rapid growth over the past few years.”
AGR has been a trusted CPR reviewer to global energy companies for over three decades, delivering reports to stock exchanges and in lending processes, among other locations, Scandinavia and Australia. The multi-disciplinary consultancy is also recognised as independent auditors by multiple banks in these regions.
CPR work is delivered by AGR’s team of experts, who have more than 20 years’ qualified valuer experience in disciplines covering reservoir engineering, petroleum economics, petrophysics, geophysics as well as drilling and facilities.