Oilfield services company Archer said Thursday it had won a five-year contract with Perenco UK Limited in the United Kingdom for the provision of Coiled Tubing and Pumping services.
The contract contains two options of one year each and started May 3, 2023, in direct continuation of our previous contract with Perenco.
Based on the expected activity level for the committed term, the contract has an estimated potential value of up to $50 million.
Dag Skindlo, CEO of Archer: "We are extremely proud to announce this long-term Coiled Tubing and Pumping contract. This commitment reflects our client’s confidence in our ability to maintain safe operations and continue our strong service delivery performance.
Archer announced the acquisition of the Baker Hughes UK Coiled Tubing business early in 2023 and assumed operations from April 4. We have successfully transitioned the business and have a dedicated Archer Coiled Tubing team of 50 experienced and skilled employees performing safe and efficient services in the UK."
We look forward to continuing growing the Archer service offering in the UK and bringing value to our clients’ P&A, workover, and intervention programs.”