Hamilton, Bermuda (July 07, 2026)
Further to the announcement on June 26, 2026, Archer Limited ("Archer") has now
entered into a large contract related to plug and abandonment ("P&A") activities
in the UK North Sea for Well-Safe Solutions ("Well-Safe") on the Beryl and
Forties fields operated by Apache North Sea.
The decommissioning project, which will commence during 2026, includes seven
platforms and more than 260 wells.
Well-Safe is lead contractor for the full integrated P&A scope, while Archer
will deliver all platform-based drilling services and several of Archer's well
services offerings, including wireline, coiled tubing and cost-effective
downhole solutions and technologies. Archer will also provide specialist fishing
and P&A services for subsea wells.
Dag Skindlo, CEO of Archer, commented: "We are very excited to be part of this
significant P&A project with Apache and Well-Safe. This agreement represents a
delivery model for large-scale P&A, where Apache has contracted Well-Safe and
Archer under an integrated framework. We are committed to supporting the project
through the application of our operational experience, technology and
engineering capabilities. Working in an integrated execution model with Apache
and Well-Safe's experienced management and engineering teams, we will seek to
deploy effective solutions and new technologies throughout the project
lifecycle."
Archer's industry leading P&A backlog confirms our growth strategy to develop
P&A services and technology to drive down cost of P&A.
About Well-Safe Solution
Well-Safe Solutions is creating a sustainable future for the energy sector
through safe and efficient well life cycle services. It supports each stage of
the well life cycle, from cradle to grave, as part of the global energy
transition.
Founded in 2017 and now with 300+ employees, the company operates
internationally from its Aberdeen, UK headquarters and Kuala Lumpur, Malaysia.
Website: https://www.wellsafesolutions.com/ (https://eur05.safelinks.protection.
o
utlook.com/?url=https%3A%2F%2Fwww.wellsafesolutions.com%2F&data=05%7C02%7CJoachi
m
.Houeland%40archerwell.com%7C26f20bdbdfe74ea8f41908ded826c2af%7C7e09344361d34f25
b
10bb8e038ac2798%7C0%7C0%7C639185858350297298%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1
h
cGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D
%
7C0%7C%7C%7C&sdata=d0RWkDIDUaVswdaImVjOkYPV0lXv8LbcF2ZUixP1nkE%3D&reserved=0)
For additional information, please contact:
· Espen Joranger, Chief Financial Officer - Mobile: +47 982 06 812, Email:
espen.joranger@archerwell.com
· Joachim Houeland, Manager Treasury and Investor Relations - Mobile: +47 482
78 748, Email: joachim.houeland@archerwell.com
stor Relations - Mobile: +47 482\
78 748\, Email: joachim.houeland@archerwell.com\