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Pörssitiedote

Archer Limited: Archer Awarded Planning Work for Snorre UPA and Heidrun B&C Templates by Equinor

Archer
Lue tiedote

Hamilton, Bermuda (March 28, 2025)

Archer is pleased to announce that Equinor has awarded the company the planning work for the permanent plug and abandonment (P&A) of the Snorre UPA and Heidrun B&C templates.

With a comprehensive portfolio of P&A solutions, including a well engineering joint venture with Elemental Energies, Archer is uniquely positioned to deliver end-to-end services that encompass planning, well engineering, and the execution of permanent well abandonment. This award highlights Archer's continued commitment to delivering cost effective and high-quality services across the full value chain within the P&A sector.

Commenting on the announcement, Dag Skindlo, CEO of Archer, stated: "We are honored to have been selected by Equinor for this significant subsea  P&A project. This contract reflects our team's deep expertise and dedication to subsea well P&A planning. We look forward to collaborating closely with Equinor to ensure the successful execution of this project as  we strongly believe in a model where we combine well barrier design with well service specialist and new solutions. This will drive down the cost for operators."

The contract reinforces Archer's leading position in the P&A market, both in Norway and internationally, allowing us to showcase our comprehensive capabilities-from concept selection through to the delivery of permanently plugged and abandoned wells.

For additional information, please contact:

Espen Joranger
Chief Financial Officer
Mobile: +47 982 06 812
Email: espen.joranger@archerwell.com

Joachim Houeland
Manager, Treasury & Investor Relations
Mobile: +47 482 78 748
Email: joachim.houeland@archerwell.com

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