Archer's commitment to sustainability is to make responsible business decisions that generates value while protecting our planet, human rights and contributing to a sustainable future. Archer is embracing the shift towards lower emissions, reduced carbon footprints, continued focus on Health, Safety and Environment (HSE), diversity and good governance. HSE performance has long been a key metric for measuring and evaluating our performance and continue to be one of Archer’s key focus areas. We have already implemented tailored ESG targets for each business unit.
Archer continues to maintain strong organizational governance and have zero tolerance for corruption and strong focus on conducting our business with high ethical standards. We will continue to plan for, monitor and assess the risks we face in the marketplace and respond proactively.
As a global organization Archer recognizes our responsibilities to sustainable development in all our business activities. Our responsibilities and commitments are described in our management system, Archer’s Code of Conduct and our guidelines.
We have established three overarching strategic directions for Archer. All our business units and cross divisional activities will be focused on supporting and developing:
LOW CARBON AGENDA
Archer is committed to contribute in the ongoing energy transition. Through continuously development of new technologies and services we will reduce our energy consumption as a key partner to our clients in their low carbon agendas.
Archer has a broad portfolio of products and services within P&A and Slot Recovery, and is in a unique position to deliver lower carbon solutions to our clients. We will accomplish this with more efficient operations, developing cross synergies between Archer businesses as well as employing complementary service providers. With this model we lower the number of persons on board offshore installations, reduce rig hours and eliminate multiple trips into the well. This directly reduces emissions, reduces carbon footprint, and improves industry sustainability over traditional methods.
In 2020 we conducted more than 300 remote operations through our IO center, and have started a project for the development of carbon capture and storage solutions (CCS).
RESILIENT OIL AND GAS OFFERING
The majority part of our business is focused on brownfield development. Brownfield operations are in mature fields that have been developed, where infrastructure is in place and when the fields are already producing. At this stage, the investments are typically smaller and there is less risk. In a scenario where we see less demand for oil and gas, oil and gas companies are likely to prioritize investments and spending in brownfield developments. We are confident Archer’s market position in brownfield services is a solid foundation for decades to come and will be more economically sustainable than our peers with greater exposure to the greenfield market.
In a growing late-life and plug and abandonment market we believe we are well positioned to be a strategic partner to our clients, by developing and delivering proprietary technology, efficiency, lowering cost and reducing emissions.
Archer will explore business opportunities within the green and renewable energy space. We will continually identify synergies with our current operations, assess competitive advantages and competence, and assess new markets.
All business decisions are taken on a financial basis in line with our environmental, social and governance foundation.