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