Archer Lands $40M Drilling Services Contract from Equinor

Oilfield services firm Archer has been awarded a two-year contract for platform drilling services for Equinor in Brazil.

The contract will commence in November 2024 in direct continuation of Archer’s current contract for drilling operations and maintenance on Equinor’s Peregrino A & B platforms and includes an optional two-year extension period.

The estimated firm contract value is $40 million, according to Archer.

‘’We are proud that Equinor has chosen to continue their relationship with Archer in Brazil where we have been the partner of choice since the start of drilling operations in 2008.

“This contract reflects our client’s confidence in our ability to maintain safe and efficient operations across both their platforms. It is testament to the hard work and dedication of our teams who have supported both the Peregrino A & B assets for over fifteen years.

“This contract is an important part of Archer’s strategy to increase and strengthen operations in key regions and gives us visibility to continue our international growth,” said Alexander Olsson, EVP Platform Operations.