IR news

Archer awarded contract for the modular drilling rig Archer Emerald

Hamilton, Bermuda – (July 8, 2019)

Archer announces the award of a contract with OMV Taranaki Limited for the provision of drilling services using the modular drilling rig (“MDR”) Archer Emerald, including associated services, materials, equipment and personnel. The contract is for a firm five well contract with two one well options on OMV’s Maui A platform located in the Tasman Sea in New Zealand. The firm contract commitment is estimated at 11 months, with a further 5 months for the optional wells. Following a period of rig reactivation and pre-operation acceptance testing, the MDR will be mobilised from Norway to New Zealand with drilling expected to commence 1st March 2020.

“We are delighted to have been awarded this contract which reinforces our position as the leading provider of harsh environment offshore modular drilling rigs with our commitment to provide safe and efficient drilling solutions,” said Kenny Dey, Archer’s Vice President for Platform Drilling. “This award demonstrates the confidence our client has in our modular rig technology and personnel following Emerald’s first successful drilling campaign on Maui A between 2012 and 2014.We look forward to working closely with OMV. Our personnel are committed to deliver safe, efficient and successful wells.”

For additional information please contact:

Dag Skindlo, Chief Financial Officer

Mobile: +47 982 26 624

dag.skindlo@archerwell.com

Joachim Houeland, Corporate Treasurer

Mobile: +47 482 78 748

joachim.houeland@archerwell.com

ABOUT

Archer is a global oilfield service company with more than 40 years’ experience, over 5,000 employees, and operations in more than 40 locations in 19 countries. From drilling services, production optimization, well integrity and intervention, to decommissioning, Archer is focused on safely delivering the highest quality services and products to the drilling and well service markets.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)