Archer Bags ConocoPhillips NCS Deal
Archer Limited has revealed that its subsidiary, Archer AS, has secured a long-term frame agreement with ConocoPhillips (NYSE: COP) for the provision of wireline services on the Norwegian Continental Shelf.
The deal makes Archer the largest mechanical intervention company on the Norwegian Continental Shelf with an estimated total contract back-log of $410.9 million (NOK 3.5 billion), Archer noted. The contract is for an initial five-year period and commences in the second quarter of this year. It also includes additional optional periods.
“The contract is another recognition of Archer’s ability to provide safe, efficient and sustainable intervention services,” Archer said in a statement posted on its website.
“Archer pursues new technology and digital solutions for well simulations and remote support, to further enhance efficiency and to provide operations with minimum environmental impact,” Archer added in the statement.
In January this year, Archer announced that Equinor had awarded Archer Integrated Services AS, in alliance with Welltec Oilfield Services (Norway) AS and Schlumberger Norge AS, a five-year contract for the provision of integrated wireline services in the North Sea. In November last year, Archer revealed that it had secured a five-year contract from Aker BP, with an additional three-year extension option, for the provision of platform drilling operations and maintenance services on the Ula and Valhall installations in the Norwegian sector of the North Sea.
Archer is a global oil services company with a heritage that stretches back over 40 years. The company was formed in 2011 and is the result of the coming together of two well specialist companies – Seawell and Allis-Chalmers Energy – along with several complementary businesses. Archer operates in 40 locations providing drilling services, well integrity and intervention, plug and abandonment, and decommissioning to its upstream oil and gas clients, Archer highlights on its website.
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