Archer

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

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

Joachim Houeland

Manager, Treasury & Investor Relations

Mobile: +47 482 78 748

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