Energy industry software solutions provider AGR Software has agreed to acquire the Deloitte Digital portfolio application ‘RIG’ for digital rig scheduling.
"The acquisition will expand AGR Software’s portfolio of applications which enable game-changing efficiencies in the energy exploration and production sectors," AGR Software said.
"AGR Software, which is part of the global energy services partner, AGR, has a number of plug-and-play applications available on its iQx platform. The platform helps digitize the well delivery process," the company said Tuesday.
"The acquisition of the rig portfolio optimization tool will in the longer run allow current and new iQx™ users to manage their entire well planning, operations, and reporting from one simple platform," AGR added.
According to AGR, RIG was developed to optimize rig scheduling and to give users complete visibility of their rig portfolio, helping avoid downtime and delays.
"The application is already proven, having been successfully rolled out on the Norwegian Continental Shelf," AGR added.
"Alongside the iQx platform, RIG will give AGR Software a portfolio of cloud-based applications that cover well time and cost estimation, tracking of actual time and cost, following up schedules and reporting of overall project performance. The AGR Software products also allow for increased collaboration between drilling project members and enhanced learning for better decision making," AGR added.
Svein Sollund, CEO of AGR said:"RIG is an important supplement to iQx users, enabling innovation and supporting transparency of well data. The platform enables drilling engineers to simplify their workflows. AGR Software is a rapidly growing business unit within AGR and we are very pleased with the recent addition to their drilling software products."
"Digitalization for more efficient operations management is a priority in the energy industry. Optimized rig scheduling results in reduced cost and emissions in addition to more efficient planning, logistics, and personnel management. Critically, it also gives organizations real-time insight, allowing for better informed, more strategic, and commercially viable decisions,” added Øystein Andersen, VP at AGR Software.
AGR Software did not share the financial details of the RIG acquisition.