Archer – The P&A Company

Archer – optimizing production in existing fields and P&A of wells 

Brownfield operations are in mature fields that have been developed, where infrastructure is in place, and the fields are producing. At this stage, the investments are typically smaller, but there is more certainty in that decision. In a market where we are likely to see less demand for oil and gas in the long term, oil and gas companies are more likely to prioritize spending in brownfield developments.

We are confident Archer’s market position in brownfield services is a solid foundation for decades to come and will be more economically sustainable than our peers who may have a greater exposure to the greenfield market. Based on current estimates, oil and gas will still be a part of the energy mix in 2050. A significant majority of Archer’s revenue comes from the brownfield segment, from production drilling to permanent P&A activities.

Through innovation and organic growth, acquisitions and international expansion, Archer has developed the broadest and most advanced P&A offering in the industry, representing a fast growing contribution to Archer’s revenue today. Archer has a clear strategy to capture a large portion of the growing P&A market globally, through the combination drilling services a broad well services offering. It is expected that more than 3,000 wells will be plugged in Norway, UK, and Netherlands in the coming 30 years, and a greater number in the international offshore environment.

Archer is well positioned to contribute to the permanent closure of the oil and gas wells on a global basis, using our technology and extensive track record to ensure a safe, environmentally sound, and lower carbon solution to the market. The permanent P&A of oil and gas wells is an essential activity to curb global emissions and protect the environment. Our goal is to industrialize the P&A process and spearhead innovation to cut operators’ costs globally