Hamilton, Bermuda (April 27, 2026)
Archer has been awarded a three-year contract extension by Equinor ASA for the
provision of wireline and intervention services on the Norwegian Continental
Shelf.
The contract extension builds on the integrated wireline contract originally
awarded to Archer in 2021, under which Archer, together with its alliance
partners, has delivered services across key Equinor assets. While the original
agreement included optional extension periods of three times two years, the
current award represents a firm three-year extension, providing continued
operational continuity and visibility.
The extension represents a total contract value of approximately NOK 3 billion,
with around half attributed to Archer and the remainder allocated to alliance
partners.
The agreement reinforces Archer's position as a trusted provider of advanced
well services, supporting Equinor's operations through the continued delivery of
high-quality wireline and intervention solutions, contributing to safe,
efficient, and optimized well performance.
"This contract extension reflects the strong and long-standing relationship we
have built with Equinor," said Dag Skindlo, Chief Executive Officer of Archer.
"We are pleased to continue supporting Equinor's operations and consider this
agreement strategically important for Archer. It provides long-term visibility
to our business, reinforces the strength of our alliance model, and demonstrates
the trust placed in our people, technology, and service quality."
The contract will continue to leverage Archer's integrated service offering
alongside its alliance partners, delivering innovative and cost-efficient
wireline and intervention services aligned with Equinor's operational
objectives.
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