Marathon renews Archer Braes contract, tests ComTrac

May 4, 2017

Marathon Oil has renewed a contract for work on its three Brae platforms in the North Sea with Aberdeen-based oilfield equipment firm Archer.  

The contract for platform drilling, maintenance and engineering services was first signed in 1993, and was last renewed in 2012. It covers the Brae Alpha, Brae Bravo, and East Brae platforms.

Archer also said it has successfully field tested the ComTrac composite rod well intervention technology, jointly owned between Archer and IKM through C6 Technologies. 

Commenting on the business environment, Archer said: "The outlook for oil services remains uncertain, but Archer and its subsidiaries are benefiting from substantial exposure to the high growth US onshore market. 

"Overall, second quarter activity is expected to be in line with Q1 activity. Increased activity in Eastern Hemisphere is expected to offset the anticipated reduction in active drilling units in Argentina and Bolivia. Activity in 2H 2017 is estimated to improve over 1H."


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