Nordic Business Report-January 22, 2007-AGR Group ASA and Helix Energy Solutions Group Inc purchase vessel for conversion into FPSO (C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com Norwegian offshore technology and services provider AGR Group ASA (formerly Ability Group) said on Monday (22 January) that it has, together with US company Helix Energy Solutions Group Inc, acquired the fuel supply vessel Westralia from the Australian Commonwealth Government. AGR Group and Helix Energy Solutions Group plan to convert the 34,000 dwt vessel into a floating, production, storage and offloading vessel (FPSO) for marketing to operators in Southeast Asia. The vessel will be converted in Indonesia and renamed Shiraz. No financial details have been released. AGR Group, headquartered in Straume in Norway, provides drilling, petroleum and related services. It has 940 employees and reported a turnover of NOK950m in 2005. AGR Group is listed on the Oslo Stock Exchange under the ticker AGR. One British pound (GBP) is worth approximately 12.17 Norwegian kroner (NOK). ((Comments on this story may be sent to [email protected]))