Archer Limited: Archer secures a new 5-year platform drilling contract with OKEA

11 Sep 2024 07:02 CEST

Hamilton, Bermuda (September 11[th], 2024)

Archer is pleased to announce the award of a platform drilling contract with
OKEA ASA. The new contract has an initial estimated value of NOK 850 million
over a firm 5-year period and includes an additional 2-year optional period.
This award expands Archer's footprint in Norway and underscores our commitment
to high-quality, safe, and innovative solutions in the energy industry.

Archer will provide comprehensive platform drilling services, including workover
and drilling operations, well maintenance, and drilling facilities engineering,
to enhance OKEA`s offshore asset Brage in Norway. The platform drilling services
will commence at the end of this year.

Commenting on this achievement, Alexander Olsson, EVP Archer Platform
Operations, said, "We are pleased to be chosen by OKEA as their partner for
their drilling program at Brage. We look forward to a successful collaboration
and are confident in our ability to contribute to OKEA becoming a leading
operator of mid- to late-life assets at the Norwegian continental shelf".

For additional information, please 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

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)

More information:
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