Archer Limited : Statoil exercises option to extend its Platform Drilling Management contract for the Peregrino Field Development located offshore Brazil
Hamilton, Bermuda (17 November, 2017) Archer Limited announces that effective from the 1st December 2017, Statoil Brasil Oleo e Gas Ltda. have confirmed a 3 year extension to the Archer's contract for the provision of Platform Drilling Management Services on the Peregrino A and B platforms located offshore Brazil. The extension awarded is the second of the two options included in the original four year contract which commenced in 2009. The contract extension ensures Archer's continued operations for Statoil in Brazil until November 30th, 2020. "This 3 year contract extension