AGR Software said it has signed a contract with Dana Gas for the energy firm to use its software for deep water exploration in Egypt.
The software company will provide the latest version of its P1 software, which helps its users to improve the accuracy of well time and cost modeling and can be applied for all drilling and well related operations, including completions and interventions, the company said in a statement.
Earlier this year, AGR launched a cloud based version of the bespoke probabilistic time and cost modeling software, contributing to digitalisation of working processes of global E&P companies.
P1 is to be implemented on Dana Gas operated North El Arish (Block-6) concession area in Nile Delta with the first exploration well spud in Q4/2017 or Q1/2018.
"Dana Gas selected P1 as our key decision making tool for well cost, time and operational risk analysis. P1 increases our productivity in well planning, and combined with CT™ (Cost Tracker) allows us to closely track and forecast well costs as operations progress. The new cloud-based version provides instant access anywhere you have access to a web browser," Jim O'Hare, engineering lead at Dana Gas, said.
Petter Mathisen, VP at AGR Software said, “Dana Gas is the latest in a number of leading E&P companies to select P1 and we look forward to working with them. Collaboration, flexibility and the generating of robust decision-making information is the key to software solutions in the oil and gas industry today, and that’s what we hope to deliver with our cloud-based version of P1 to Dana Gas.”