Archer Limited: Well Services secures extension of frame agreement with Equinor in the North Sea
Sandnes, Norway (May 6, 2022) Archer Oiltools has been awarded a 2-year contract extension from Equinor Energy AS in the North Sea. The contract covers plug and abandonment, fishing and downhole mechanical isolation equipment. Based on current activity levels, the additional backlog is estimated at $60 million for the 24 months period which will commence in June this year. Hugo Idsøe, Vice President, Archer Oiltools, comments. “This is a strategically important extension for Oiltools in one of our core markets, which further strengthens our footprint and presence in the region.