Hamilton, Bermuda (16 January, 2018)

Archer Limited announces that effective from the 1st of January 2018, Apache have awarded a new 3 year contract to Archer for the provision of Platform Drilling Management Services which include operations and maintenance on their Forties and Beryl fields. This will include the Forties Alpha, Bravo, Charlie and Delta as well as the Beryl Alpha and Bravo platforms. In addition to the firm contract term, two additional two-year extension options are available. Archer has provided these services to Apache on the Forties and Beryl fields since 2004 and 2012 respectively. The new fixed term contract ensures Archer’s continued operations for Apache on the UKCS until at least December 31st 2020.

“We are delighted to have been awarded this three year contract. It is recognition of the hard work and commitment from all our personnel by consistently maintaining a safe environment for all those engaged on the Apache’s operations, whilst ensuring a high level of operational and technical efficiency.” said Kenny Dey, VP Platform Drilling. “We look forward to continuing our working relationship with Apache through the duration of the new 3 year contract”.

With this award, Archer’s offshore drilling crews will continue to provide drilling operations and maintenance services for eleven major operators on forty two installations in the North Sea, two in Brazil and one tender-assist barge rig in Greece. This award from Apache follows successful contract awards / renewals in 2017 with Shell U.K. Limited, Chevron (UK), Marathon Oil (UK), Repsol (Norway), Energean Oil & Gas (Greece) and Statoil (Brazil).

ABOUT ARCHER

Archer is a global oil services company with a heritage that stretches back over 40 years. With a strong focus on safety and delivering the highest quality products and services, Archer employs over 4,700 people and operates in 40 locations over 19 countries. Archer specializes in providing drilling services, well integrity & intervention, plug & abandonment and decommissioning to its upstream oil and gas clients. Visit our company website at www.archerwell.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.