IR news

Archer announces two-year contract extension for platform drilling and maintenance services in the UK North Sea

Hamilton, Bermuda (October 22, 2020)

Archer has secured a two-year contract extension with a major North Sea operator for the provision of platform drilling operations and maintenance services on seven UK North Sea installations.

The extension will commence November 1, 2020 in direct continuation of the current contract. Over the next two years Archer will continue to deliver drilling operations, maintenance and intervention support services including the provision of well services and rental equipment. In addition, Archer’s engineering team has been contracted to conduct one rig reactivation, as well as provide brownfield engineering and operation preparational support to the other six assets.

Dag Skindlo, CEO of Archer comments: “We are delighted that our client has elected to continue their relationship with Archer. This contract extension reflects our client’s confidence in our ability to maintain safe operations whilst delivering improvements to both the drilling facilities and to the platform drilling and well intervention operations on their assets. This extension testaments the hard work and dedication of our personnel who have been supporting these assets since 2015. We firmly believe this extension is a result of Archer’s continual commitment to provide our clients with solutions to improve well delivery, integrity and performance”.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.