Oilfield services investment company Akastor has completed the transaction through which AGR and First Geo joined forces and established a new company.

The joint team of experts comprises around 400 professionals with offices in Norway, the UK, the Middle East, Australia, Houston and Mexico.

In Norway, the joint company will be located at in Oslo, Stavanger and Bergen.

The merged company will be operating under the name AGR, delivering well, reservoir and G&G, petroleum software as well as consultancy manpower.

Akastor will hold 100% of the shares in the company and 55% of the economic interest. The AGR stakeholders (Silverfleet, DNB Bank and Nordea) will own the remaining 45% economic interest.