Archer Limited: Well Services secures extension of frame agreement with Equinor in the North Sea

26 Jun 2024 13:53 CEST

Sandnes, Norway (June 26, 2024)

Archer has been awarded a 2-year contract extension from Equinor Energy AS in
the North Sea.  The contract covers plug and abandonment, fishing and downhole
mechanical isolation equipment.  Based on current activity levels, the
additional backlog is estimated at $60 million for the 24 months period which
will commenced in June this year.

Nicholas Pantin, EVP Archer Well Services comments;

"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."

For more information, please visit www.archerwell.com or contact:

Espen Joranger, Chief Financial Officer | Mobile: +47 982 06 812 | Email:
espen.joranger@archerwell.com

Joachim Houeland, Manager Treasury & Investor Relations | Mobile: +47 482 78 748
| Email: joachim.houeland@archerwell.com

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