UAE-based company Dana Gas has signed software as a service (SaaS) contract to use AGR’s latest version of P1 software for deepwater exploration off the coast of Egypt. 

Using the software, operators will be able to improve the accuracy of well time and cost modelling. It can be used in different types of drilling and well operations such as completion, well intervention, slot recovery and abandonment.

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AGR Software vice-president Petter Mathisen 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.”

AGR’s P1 software also provides value and knowledge throughout the project management process, from conceptual design to programme execution and assist in analysing potential risks of the project.

"P1 increases our productivity in well planning."

Earlier this year, AGR introduced a Cloud-based version of the bespoke probabilistic time and cost modelling software.

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The initiative will help in the digitalisation of working processes of global E&P companies.

Dana Gas engineering lead Jim O'Hare said: “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.” 

P1 software will be implemented on North El Arish (Block-6) concession area operated by Dana Gas in the Nile Delta.

The first exploration well is expected to be drilled in the last quarter of this year or first quarter of 2018.