Archer Limited announces that Statoil Brasil Oleo e Gas Ltda., has exercised the first of two options to extend its contract with Archer for the provision of Platform Drilling Management Services on their Peregrino Field Development. The original contract was for a fixed four year term commencing third quarter 2009. The contract extension will commence September 1, 2014, for three years through August 31, 2017. 

John Lechner, President North Sea Region, commented, “We are extremely pleased to have secured the contract extension which is a demonstration of Statoil’s confidence that Archer continues to be their Drilling contractor of choice for the Peregrino Field in Brazil.   Our staff in Brazil has worked diligently to deliver safe, efficient and cost effective operations through the last four years in Brazil.” He added that, “The dedication and commitment shown by the two hundred and ten Archer employees supporting the contract since start-up has earned Archer the opportunity to further develop their business relationship with Statoil for the next three years.” 

Archer, a leading provider of Platform Drilling services, currently operates a total of 33 platforms in the North Sea and in Brazil, including the platforms for the Greater Ekofisk Area. 

Archer is a global oilfield service company with more than 40 years’ experience, over 8,000 employees, and operations in more than 100 locations worldwide. 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. Visit our company website at www.archerwell.com.

Archer is listed on the Oslo stock exchange.