|AGR Field Operations today announced the signing of a Master Project Services Agreement with the Australian listed alternative energy company Panax Geothermal for the development of their Limestone Coast Geothermal Project in South Australia. The project involves obtaining environmental permits, drilling and completion of a 4000m exploration well to evaluate the hot geothermal waters in buried sedimentary basins. The contract has an estimated base value of 40 MNOK over the next six months|
Johan Møller Warmedal, CEO of AGR Asia Pacific commented:
We are very pleased to be able to assist Panax Geothermal with this exciting project through our Alternative Energy product line. AGR Field Operations has a lot of experience in managing projects of this nature and we are actively seeking other players in the alternative energy industry with similar developments.
We are capable and ready to take these projects from the development stage right through to the production and power generation stage using our expertise and our wide range of services
The long term vision of Panax Geothermal is to become a major participant in the geothermal industry, both nationally and internationally. They currently have interests in geothermal projects in Australia, India and Kyrgyzstan.
AGR Field Operations is part of the Norwegian Listed Company AGR Group ASA.
AGR Field Operations offers a variety of valuable products and services needed for field development, operations and operational support of oil and gas infrastructures through the entire life of a field. Our services include Integrity & inspection services, Maintenance management, Operations & Maintenance, Project management & Engineering, Subsea services and Alternative energy. We have approximately 800 employees and have offices in Norway, Sweden, UK, Kuala Lumpur, Singapore, Australia and USA.
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