Archer Nets Long-Term Drilling Deal with OKEA
September 11, 2024
Oilfield services firm Archer has secured a new five-year platform drilling contract with OKEA for work at Brage development, offshore Norway.
The new contract has an initial estimated value of $79 million (NOK 850) million over a firm five-year period and includes an additional two-year optional period.
Archer will provide comprehensive platform drilling services, including workover and drilling operations, well maintenance, and drilling facilities engineering, to enhance OKEA`s offshore asset Brage in Norway.
Brage is a crude oil producer located in the northern North Sea, 125 kilometres west of Bergen. The water depth is 137 metres. Brage was discovered in 1980, and the plan for development and operation (PDO) was approved in 1990. The production started in 1993.
The platform drilling services will begin at the end of 2024, Archer said.
"We are pleased to be chosen by OKEA as their partner for their drilling program at Brage. We look forward to a successful collaboration and are confident in our ability to contribute to OKEA becoming a leading operator of mid- to late-life assets at the Norwegian continental shelf,” said Alexander Olsson, EVP Archer Platform Operations.
