Archer Limited: Well Services secures extension of frame agreement with Equinor in the North Sea

Sandnes, Norway (June 26, 2024)

Archer 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 commenced in June this year.

Nicholas Pantin, EVP Archer Well Services comments;

“We are pleased to continue our Well Services operations for Equinor in the North Sea.  P&A services is a key part of the Archer strategy, and we look forward to continuing to deliver cost-effective, efficient, and innovative P&A solutions to our clients in the future.”

For more information, please visit www.archerwell.com or contact:

Espen Joranger, Chief Financial Officer | Mobile: +47 982 06 812 | Email: espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury & Investor Relations | Mobile: +47 482 78 748 | Email: joachim.houeland@archerwell.com