Norway's Archer in Talks for Multi-Year Well Abandonment and Plugging Contract

en.Wedoany.com Reported - Archer, an oil service company listed on the Oslo Stock Exchange, is in negotiations with an unnamed company for a multi-year well abandonment and plugging contract. The company has confirmed that the two parties are in advanced stages of discussion.

Although no further details have been disclosed at this time, Archer explained that the potential contract covers a multi-year scope of well abandonment and plugging, including drilling, compact workover units, and well services. Archer stated: "The parties are in the advanced stages of negotiation, and the contract is expected to be signed in the near term, but there is no guarantee that a final agreement will be reached." The negotiations come just weeks after the company secured a multi-year contract extension with Equinor on the Norwegian Continental Shelf (NCS).

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