Archer Limited: Aker BP extends Archer Platform Drilling and Maintenance Services contract for the Valhall and Ula platforms

Hamilton, Bermuda (24 September, 2019)

Archer Limited ("Archer") announces that Archer AS has been awarded a 15 month extension to Archer’s existing platform drilling and maintenance services contract for Aker BP’s Valhall and Ula platforms on the Norwegian Continental Shelf. The new contract is scheduled to commence 1st October 2019 as a direct continuation of the existing contract. This extension ensures continuity of platform drilling operations and maintenance management services on the Aker BP platforms until the end of 2020.

Eirik Windegaard, Country Manager Platform Drilling Norway, commented:

“Our dedicated operations, maintenance and engineering teams have supported the Ula field since 1986 and the Valhall field since 2001. Our strong partnership with Aker BP, coupled with our commitment, integrity, and best in class operational performance has resulted in this contract extension. We look forward to continuing our working relationship with Aker BP, especially supporting the robotics project that has the potential to define the future for rig design and operation."

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.