Archer Limited: Chevron awards Archer new Platform Drilling and Maintenance Services contract for the Alba Northern and Captain platforms in the UK

Hamilton, Bermuda (23 April, 2019)

Archer Limited ("Archer" or the "Company") announces that Archer (UK) Limited is awarded a new five-year firm contract with two times one year options for the provision of platform drilling services for Chevron North Sea Limited. As part of the contract, Archer will continue to provide onshore rig operations, maintenance and QHSE management, as well as offshore operations and maintenance supervision on the Alba Northern and Captain platforms in the UK sector of the North Sea. The new contract is scheduled to commence 1 May 2019 and ensures continuity of platform drilling operations and maintenance management services on the Alba Northern and Captain platforms until at least 2024.

Kenny Dey, Vice President Platform Drilling and Managing Director Archer (UK) Limited commented:

“We have provided platform drilling operations and maintenance management services for Chevron in the UK since 2004. Our strong partnership with Chevron, coupled with hard work and commitment from all our personnel has resulted in this contract award which will extend our collaboration for a minimum of another five years. We look forward to continuing our working relationship with Chevron through the duration of the new contract and in delivering safe and efficient drilling and maintenance services to our valued client to ensure they are successful in all activities and planned drilling programmes.”

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