Archer

Archer and Repsol Sign Major Five-Year Contract for late life and P&A services

Hamilton, Bermuda (May 2, 2025)

Archer, a leading provider of drilling and well services, has signed a five-year

contract with Repsol Resources UK for platform drilling services, facilities

engineering, coil tubing, wireline services, and downhole well service

technologies. The agreement includes a two-year optional extension.

This strategic partnership will support late-life operations and plug and

abandonment activities on Repsol's extensive platform portfolio including Piper,

Claymore, Tartan, Saltire, Auk, Arbroath, Montrose, Beatrice, and Clyde. A key

component of the contract is the P&A scope, covering approximately 130 wells.

Dag Skindlo, CEO of Archer, is proud to announce this milestone win "We are

pleased to strengthen our partnership with Repsol through this major long-term

agreement within our strategic focus on P&A services. We have robust technical

and attractive commercial offerings within late life and P&A, and our team is

committed to delivering operational excellence, innovation, and sustainability

in the decommissioning of these assets."

This agreement further solidifies Archer's position as a trusted provider of

integrated drilling and well services with commitment to safe and cost-effective

operations in the North Sea.

For additional information, please contact:

Espen Joranger, Chief Financial Officer, Mobile: +47 982 06 812, Email:

Joachim Houeland, Manager Treasury and Investor Relations, Mobile: +47 482 78

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

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