Archer Lands $768 Million Statoil Deal

Statoil has confirmed a four-year firm contract to Archer for the provision of “drilling services fixed platforms” on a total of 12 platforms located on the NCS.

The contract award includes three contract extension options of two years each.

The contract is effective from October 1, 2018 following a transition period to prepare for operations.

The firm contract award has a value of more than NOK 6 billion ($768 million) based on the current drilling schedule and ensures Archer’s continued operations for Statoil in the Norwegian continental shelf until at least October 1, 2022.

The total contract award is approximately NOK 15 billion ($1.92 billion) should Statoil elect to exercise all options. These values exclude additional work scope such as modifications and upgrades of the platforms in the portfolio.

Archer will with this contract award provide drilling services for Statoil on 13 platforms on the Norwegian Continental Shelf and 2 platforms in Brazil. The additional platforms awarded to Archer were Grane and Gullfaks A, B and C. These four rigs are currently in drilling mode, and Archer will on start of the contract increase its employee base by approximately 400 people.

Share this article

Follow Subsea World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

read more >

OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >

OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

read more >

Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

read more >