Oslo Stock Exchange-listed oil services company Archer has landed a multi-year contract extension with an undisclosed oil and gas operator on the Norwegian Continental Shelf (NCS).
Archer has been awarded a three-year contract extension for the provision of wireline services under a long-term frame agreement with an unnamed company it describes as a major operator.
The company estimates that annual revenue from this contract will account for 7-9% of total Well Services revenue based on 2025 activity levels.
The firm underlines that the exercise of this extension option ensures the continued provision of wireline services under the existing contractual framework.
Commenting on the latest extension, Bjørn Nilsen , Vice President Well Services at Archer, emphasized: “We are delighted that Archer was elected to continue our work for the client.
“The exercise of this extension option confirms the strength of our long‑standing cooperation and reflects our consistent delivery of safe, efficient and reliable wireline services on the NCS. We have been providing wireline services for this operator in Norway since 2010.”
Archer recently secured multiple new assignments, including one in collaboration with SLB for integrated plug and abandonment (P&A) work in the Gulf of America (the U.S. Gulf of Mexico).