Archer Awarded Planning Work for Snorre UPA and Heidrun B&C Templates by Equinor

28 Mar 2025 07:52 CET

Hamilton, Bermuda (March 28, 2025)

Archer is pleased to announce that Equinor has awarded the company the planning
work for the permanent plug and abandonment (P&A) of the Snorre UPA and Heidrun
B&C templates.

With a comprehensive portfolio of P&A solutions, including a well engineering
joint venture with Elemental Energies, Archer is uniquely positioned to deliver
end-to-end services that encompass planning, well engineering, and the execution
of permanent well abandonment. This award highlights Archer's continued
commitment to delivering cost effective and high-quality services across the
full value chain within the P&A sector.

Commenting on the announcement, Dag Skindlo, CEO of Archer, stated: "We are
honored to have been selected by Equinor for this significant subsea  P&A
project. This contract reflects our team's deep expertise and dedication to
subsea well P&A planning. We look forward to collaborating closely with Equinor
to ensure the successful execution of this project as  we strongly believe in a
model where we combine well barrier design with well service specialist and new
solutions. This will drive down the cost for operators."

The contract reinforces Archer's leading position in the P&A market, both in
Norway and internationally, allowing us to showcase our comprehensive
capabilities-from concept selection through to the delivery of permanently
plugged and abandoned wells.

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

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