Archer Scoops $140M Well P&A Services Deal with Equinor

(Credit: Archer)

Oilfield services firm Archer has secured an integrated plug and abandonment (P&A) contract by Equinor covering 30 subsea wells, worth up to $140 million.

The contract follows a frame agreement announced in March 2025, under which Archer was awarded engineering and planning work for subsea P&A operations. With the latest award, Archer has secured the full planning and execution scope for the program.

The firm contract term is three years, with two optional extensions of two years each. The estimated total contract value is up to $140 million for the 30 subsea wells, Archer said, adding that about half of the value relates to services delivered by its alliance partners.

The integrated scope includes project management, well and subsurface engineering, and execution services such as wireline, fishing and remedial services, downhole mechanical isolation, cementing, fluids and mudlogging. Planning and subsurface engineering will be delivered through the Archer Elemental joint venture.

The contract structure allows for potential extensions to additional P&A projects across Equinor’s portfolio.

“We are honored by the signing of this contract, which further strengthens our long-standing relationship with Equinor and supports safe, efficient, high-quality, and innovative P&A operations. The award further reflects our team’s expertise in subsea well P&A planning and execution,” said Nicholas Pantin, executive vice president for well services at Archer.