Oilfield services provider Archer has secured a four-year contract extension with Apache for the provision of platform drilling operations and maintenance services in the UK North Sea.
Apache’s assets included in this deal are Beryl Alpha and Bravo, Forties Alpha, Bravo, Charlie and Delta.
The extension will start on 1 January 2021 in direct continuation of the current contract, Archer said in a statement on Wednesday.
Based on current and expected future activity, including additional services through our Engineering, Rentals and Oiltools divisions, the extension has an estimated value of up to $100 million.
The previous contract awarded by Apache to Archer was in January 2018.
In addition to the firm, three-year contract term, the deal included two additional two-year extension options.
Dag Skindlo , CEO of Archer, commented on the latest extension: “The extension strengthens our long-term business relationship with Apache, which dates back to 2004, and our position as a major provider of platform-based drilling and intervention solutions in the UK”.
“During these challenging times, the professionalism of our team has ensured safe and efficient services to Apache. We firmly believe this contract win is a result of Archer’s continual commitment to provide operators with our experience and the right solutions to improve well delivery, integrity and performance”, continued Skindlo.