Stavanger, Norway (March 31, 2016)
Archer Limited announces a two-year extension of its contract for platform drilling services, as Statoil exercises the first option following the original four-year contract, with two additional two-year extension options remaining. Archer is currently the incumbent contractor for the Statfjord A, B and C platforms and was additionally awarded the Njord, Sleipner A, Snorre A and B, and Visund platforms under this extension. The extension will commence on October 1, 2016 which is a direct continuation of the current contracts.
“I am very pleased that the excellent performance of our drilling crews over the past years has gained the confidence of Statoil and resulted in the award to Archer of this important contract extension for the provision of Platform Drilling Services in Norway,” said Kenny Dey, Archer’s Vice President for Platform Drilling. “Throughout the extension discussions we focused on developing future-oriented operating models that provide safe, efficient and cost effective solutions.”
The extension places Archer on 8 of the total of 17 platforms covered within the contract scope. Archer also maintains a lifetime contract with Statoil for the Veslefrikk platforms in the North Sea and will continue providing Platform Drilling services to Statoil’s Peregrino development in Brazil.
With this award Archer’s offshore drilling crews will provide drilling operations and maintenance services on 19 platforms on the Norwegian Continental Shelf, 24 platforms on the UK Continental Shelf, 2 platforms in Brazil and 1 tender-assist barge rig in Greece for customers including Statoil, ConocoPhillips, BP, Chevron, Repsol, Shell, Apache, Fairfield, Energean and Marathon.
Archer is a global oil services company with a heritage in drilling and well services that stretches back over 40 years. Employing more than 5,000 people at 40 locations in 19 countries, from drilling services, well integrity & intervention, plug & abandonment 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.
Treasury Manager and Investor Relations
(+47) 51 30 80 00
Estelle Currie Pettersen
(+47) 51 30 80 00