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Archer ( (ARHVF) ) has provided an update.
Archer Limited has secured an integrated plug and abandonment contract from Equinor covering 30 subsea wells, expanding a previous frame agreement that focused only on engineering and planning to now include full planning and execution responsibilities. The three-year deal, which carries two two-year extension options and an estimated value of up to USD 140 million, positions Archer as a key provider of comprehensive P&A services across Equinor’s portfolio, with roughly half the contract value flowing to alliance partners involved in wireline, fishing, remedial services, mechanical isolation, cementing, fluids and mudlogging. By combining subsurface and well engineering from its Archer Elemental joint venture with extensive operational services in a fully integrated program, the award strengthens Archer’s standing in the growing decommissioning market and deepens its long-standing relationship with Equinor, underscoring confidence in the company’s capability to deliver safe, efficient subsea well abandonment from concept through permanent closure.
More about Archer
Archer Limited is an oilfield services company focused on well services and well abandonment solutions for the energy industry, with particular expertise in plug and abandonment (P&A) of subsea wells. Through its alliances and its Archer Elemental joint venture, the company provides integrated engineering, project management and execution services across the full lifecycle of well decommissioning projects for major operators such as Equinor.
Average Trading Volume: 207,201
Current Market Cap: NOK2.27B
See more data about ARHVF stock on TipRanks’ Stock Analysis page.