Archer Secures a 2-year Contract Extension worth USD 40 million

Archer has been awarded a two-year contract extension for platform drilling services in the UK with an estimated contract value of USD 40 million. The extension will commence 1[st] May 2024 in direct continuation of the current contract. Over the next two years Archer will continue to deliver drilling operations, maintenance and rig reactivation services for the customer.

Alexander Olsson, EVP Platform Operations in Archer comments: ''We are delighted that Archer was elected to continue the work for our client. This contract extension reflects our client's confidence in our ability to maintain safe and efficient operations across their platforms. This extension is a testament to the hard work and dedication of our personnel who have been longstanding in support of both assets. 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''.