IR news

Archer Limited : Three year Apache contract for Archer enhances strong operations in North Sea

Aberdeen (27 September 2012) – Global oilfield services provider Archer has secured a three year contract to provide platform drilling and maintenance services to six Apache platforms in the North Sea.

As the incumbent contractor on the Forties Alpha, Forties Bravo, Forties Charlie and Forties Delta, this contract is an extension to the company’s existing contract which began in 2004.  In addition Archer has been awarded the contract for the Beryl Alpha and Beryl Bravo platforms, which Apache recently acquired from ExxonMobil.  These platforms are currently operated by KCA Deutag, but will now fall under the new Archer contract following a competitive tender. As a result Archer now provides services to six Apache platforms in the North Sea. In addition to the firm contract, which will run until 2015, the contract also comes with two one-year options for extension.

Speaking of the most recent contract award, Kjetil Bjørnson, President & General Manager North Sea Region said: “We are pleased to have been awarded this contract with Apache. The addition of Beryl Alpha and Beryl Bravo platforms further strengthens our long-term business relationship with Apache and our position as a leading provider of platform drilling services in the North Sea.”  

This award closely follows the company’s recent five year extension of an existing contract with Marathon Oil (UK) Limited for platform drilling, maintenance and engineering services on the three platforms it operates in the Brae field. Overall Archer now holds contracts for 18 platforms in the UK sector of the North Sea with long term fixed contracts up to 2017.

With the above mentioned contract awards Archer is currently recruiting a minimum of 160 additional personnel to service the contract requirements and to cater for future operational growth. Today the company employs around 200 onshore staff and more than 500 offshore personnel in its UK operations.

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