Archer, a global supplier of drilling and well services, has secured a contract for the provision of drilling services with Talisman Sinopec Energy UK Limited. This contract marks the first operation using the Archer Emerald modular rig on the U.K. continental shelf. The Archer Emerald is currently operating in New Zealand on the Maui A offshore platform.
The initial two-year contract value is approximately USD 96 million. Mobilization is scheduled to commence during the first quarter of 2016 following a period of rig interface modification.
“We are very pleased to have been awarded this contract. It illustrates Archer’s ability to offer a unique range of expertise as an integrated specialist for drilling services and our commitment to provide safe, innovative drilling and well solutions for the industry,” said Kenny Dey, Managing Director of Archer UK. “The Archer Emerald’s ground-breaking technology allows for a compact footprint, high specification, fully automated systems and low personnel on board (POB), making it an ideal solution for today’s offshore environment.”
The platform based modular drilling activity will form an integral part of the Talisman UK MAR redevelopment project aimed at prolonging the life of ageing assets and extracting further reserves from the Montrose reservoir. Archer’s modular rig technology, and proven UK operations and engineering teams, will assist Talisman Sinopec in delivering its expectations in terms of enhanced production from the Montrose wells.
ABOUT
Archer is the joining together of several well-specialist companies with a 40-year heritage in oil services, each with a deep heritage in providing services to the oil and gas industry across four continents. Archer specializes in platform drilling, unconventional production, well intervention and well integrity products and services. We employ over 8,300 people unified by a single purpose: to deliver better wells that help our customers produce more oil and gas. Visit our company website at www.archerwell.com.
Archer is listed on the Oslo stock exchange.
CONTACTS
For Investors:
Lars Bethuelsen
Senior Vice President, Mergers and Acquisitions, and Investor Relations
(+47) 51 30 80 00
lars.bethuelsen@archerwell.com
For Media:
Dustin Childers
Director of Marketing
+1 713 856 4222