Equinor prolongs Archer’s North Sea assignment for 24 months

Oil services company Archer has won a two-year contract extension with Norwegian state-owned energy giant Equinor in the North Sea.

Under the terms of the contract, Archer will provide plug and abandonment, fishing, and downhole mechanical isolation equipment services. The firm’s additional backlog is estimated to be around $60 million for the two-year period starting this month.

Nicholas Pantin, Archer Well Services Executive Vice President (EVP), said: “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.”

The two companies inked a four-year contract extension for drilling services in March, enabling Archer to provide platform drilling services to nine out of Equinor’s 19 installations on the Norwegian Continental Shelf (NCS).

The oil services player also recently secured a two-year contract extension for platform drilling services with an undisclosed client in the UK and won a contract for comprehensive platform drilling services offshore Brazil with Trident Energy.

Meanwhile, Equinor has had its hands full in various segments of business operations. The firm picked SLB to do front-end engineering design (FEED) work for an all-electric subsea project at the Fram Sør field offshore Norway, while Ocean Installer was tasked with engineering, procurement, construction, and installation (EPCI) for the Troll Phase 3 – Stage 2 project.

The energy giant recently won two new CO2 storage licenses on the Norwegian Continental Shelf (NCS) and inked a deal with France’s GRTgaz for transporting captured CO2 from industrial emitters in France to permanent storage offshore Norway as part of the planned CO2 Highway Europe pipeline project.