Archer Limited (Archer) is pleased to announce the award of an integrated Plug and Abandonment (“P&A”) contract with Equinor for 30 subsea wells.

In March 2025, Archer announced Equinor’s award of a frame agreement for engineering and planning for the P&A of its subsea wells. With this contract, Archer has now been awarded the full planning and execution scope for the P&A operations. (The earlier announcement can be found here: https://archerwell.com/archer-awarded-planning-work-for-snorre-upa-and-heidrun-bc-templates-by-equinor/ )

The contract is structured to enable extensions to additional P&A projects across Equinor’s portfolio. The firm contract term is 3 years including 2 options each of 2 years, with an estimated total contract value up to USD 140 million for the 30 subsea wells. Approximately 50% of the contract value relates to services delivered by Archer’s alliance partners.

The fully integrated P&A program incorporates the planning scope including project management, well and subsurface engineering (provided through the Archer Elemental joint venture) with the execution scope including wireline, fishing and remedial services, downhole mechanical isolation, P&A services, cementing, fluids, and mudlogging.

This award further reinforces Archer’s leading position within the P&A market and reflects its ability to deliver integrated well abandonment solutions from concept selection through to the permanent abandonment of wells.

Nicholas Pantin, EVP Well Services at Archer, commented:

“We are honoured by the signing of this contract, which further strengthens our long-standing relationship with Equinor and supports safe, efficient, high-quality, and innovative P&A operations. The award further reflects our team’s expertise in subsea well P&A planning and execution. We are proud to continue and expand our collaboration with Equinor.”

About Archer

Archer is a global oil services company with a heritage that stretches back over 40 years, with a strong focus on safety and delivering the highest quality products and services. Archer operates in 40 locations providing drilling services, well integrity & intervention, plug & abandonment and decommissioning to its upstream oil and gas clients.

About Equinor

Equinor is an international energy company committed to long-term value creation in a low-carbon future.
Our purpose is to turn natural resources into energy for people and progress for society. Equinor’s portfolio of projects encompasses oil and gas, renewables and low-carbon solutions, with an ambition of becoming a net-zero energy company by 2050. Headquartered in Stavanger (Norway), Equinor is the leading operator on the Norwegian continental shelf. We are present in around 30 countries worldwide.