Athens Group Reports Record Year

Friday, February 20, 2009

Athens Group, an independent consulting company that specializes in software-related risk mitigation and problem remediation for drilling and rig control systems, announced a 66% increase in year-over-year sales during 2008 and a significant increase in booked business for 2009.

New customers included Stena Drilling, Ocean Rig, Eni/Saipem, Total Nigeria, Encana, Anadarko and Nexen Energy.  Repeat customers included Transocean, BP, Maersk Drilling, Total, Parker Drilling, Ensco, Repsol and Hydril. This customer activity indicates a strong understanding of the benefits of Drilling Technology AssuranceSM Services (DTA).

“Drilling contractors and operators are too often forced to take rigs before they are really ready,” said Mike Haney, CEO at Athens Group. “The combination of demand exceeding supply, immature drilling software systems and engineering processes, and a shortage of qualified software engineers in the industry has resulted in longer schedule delays and a greater number of costly equipment failures. Some of which have resulted in safety incidents. Our customers rely on us to help them ensure that they are doing everything possible to reduce the costs associated with non-productive time and to safeguard their workers and the environment.”

The number of semi-subs and drillships scheduled to be delivered in 2009 (33) and 2010 (24) is three and two times greater respectively than the number delivered in 2008 (11). Add to that an additional 36 and 25 jack-ups scheduled for delivery in 2009 and 2010 versus 23 in 2008, and the many vessels being built for the Marine industry. With this increase in volume, shipyards will be even more hard pressed to keep their deadlines, making schedule delays and equipment failures more likely.

As a result of the company’s continued growth, Athens Group is currently searching for candidates for DTA Services consultants to assist industry-leading customers in reducing software-related equipment failure and non-productive time on their automated rigs. Resumes should be sent to careers@athensgroup.com.

Athens Group helps drilling contractors and operators improve operational performance, reliability and safety by helping to prevent software-related equipment failures. Our Drilling Technology Assurance SM (DTA) Services were developed specifically for highly integrated rig and Drilling Control Systems and have been proven to mitigate risk and remediate problems in all phases of a rig lifecycle.

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