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4-Traders Homepage  >  Equities  >  Oslo Bors  >  Archer Ltd    ARCHER   BMG0451H1170

ARCHER LTD (ARCHER)
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Archer : wins four-year contract to deliver additional P&A services for Repsol Norge

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09/14/2017 | 09:09am CEST
09/14/2017
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Stavanger, Norway (September 14, 2017)

Global oil services company Archer has secured a four-year contract to deliver additional plug and abandonment (P&A) and related services on the Norwegian Continental Shelf for Repsol Norge AS.

This is Archer's second contract win with Repsol Norge in 2017, following the recent announcement of a four-year contract with Repsol Norge
for P&A rig operations of wells. The scope for the first contract includes drilling and maintenance services, engineering and downhole tool rental services.

The main scope of work for the second contract for additional P&A services on the Norwegian Continental Shelf includes the provision of:

• Perforating, washing and cementing services.
• Wireline, slickline and e-line services.
• Downhole mechanical bridge plugs.

The contract commenced on August 15, 2017. In addition to the initial contract term of four years, Archer may provide up to an additional six years for the scope of work for Repsol Norge.

Hugo Idsøe, Archer Vice President and Managing Director for Oiltools, and Jan Vader, Archer Vice President for Wireline, together announced that they were very pleased about securing the contract with Repsol Norge.

'The award of these additional contracts underlines Repsol's confidence in Archer's capabilities in providing integrated P&A services and strengthens our long-term business relationship with Repsol and our position as a major provider of P&A solutions on the Norwegian Continental Shelf,' they said.

'We have stayed strong and have adapted to the industry's needs during the downturn. The contract win is a result of Archer's continual commitment to provide operators with our experience and the right solutions to improve well delivery, integrity and performance.'

Mr Vader said: 'The contract scope for Archer Wireline covers mechanical wireline services, as well as pipe recovery and logging services. We have in-depth knowledge of Repsol Norge's wells from earlier campaigns and will combine this with our experience as the leading provider of efficient and customized P&A related wireline solutions.'

Mr Idsøe said: 'For Archer Oiltools, the contract scope includes barrier testing, as well as providing rock-to-rock barriers and permanent downhole mechanical isolation. Archer is an industry leader for smart and robust solutions where well integrity, reliability and time-savings are of the highest importance.

'Our operational efficiency has been consistently high in recent years. Our plug solutions and perforating, washing, and cementing technologies deliver better wells by extending well life, maximizing well performance, and minimizing environmental impact in the most cost efficient way.'

Derived from the first version plugs, today Archer's LOCK® and SPARTAN™ series of plugs form the baseline of the company's plug portfolio, field proven worldwide.

The Stronghold™ perforating, washing and cementing systems provide an economical and effective alternative to traditional P&A. By eliminating the need for milling, Archer's Stronghold™ systems deliver a step-change in efficiency and effectiveness for P&A and other operations.

ENDS

About Archer
Archer is a global oil services company with a heritage in drilling and well services that stretch back over 40 years. Employing more than 5,000 people at 40 locations in 19 countries, from drilling services, well integrity & intervention, plug & abandonment to decommissioning, Archer is focused on safely delivering the highest quality services and products to the drilling and well service markets. Visit our company website at www.archerwell.com.

CONTACTS
For Media:
Estelle Pettersen
Global Marketing Supervisor, Archer Oiltools
M + 47 9204 6842
T + 47 5130 8889
[email protected]
www.archerwell.com

For Investors:
Joachim Houeland
Treasury Manager and Investor Relations
(+47) 51 30 80 00
[email protected]

Archer Limited published this content on 14 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 September 2017 07:08:03 UTC.

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