Archer secures a 3-year contract extension with major operator on the Norwegian continental shelf

10 Mar 2026 07:42 CET

Hamilton, Bermuda (March 10, 2026)

Archer has been awarded a 3-year contract extension with a major operator under
a long-term frame agreement for the provision of wireline services. Based on
2025 activity levels, annual revenue from this contract is estimated to
represent between 7% and 9% of total Well Services revenue.

The exercise of the extension option ensures continued provision of wireline
services under the existing contractual framework.

Bjørn Nilsen, Vice President Well Services at Archer, commented:

"We are delighted that Archer was elected to continue our work for the client.
The exercise of this extension option confirms the strength of our long-standing
cooperation and reflects our consistent delivery of safe, efficient and reliable
wireline services on the NCS. We have been providing wireline services for this
operator in Norway since 2010".

For additional information please contact:

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

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

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