Archer secures contract extension on Statoil’s Peregrino

Archer Limited has announced that Statoil Brasil Oleo e Gas Ltda., has exercised the first of two options to extend its contract with Archer for the provision of Platform Drilling Management Services on their Peregrino Field Development.

The original contract was for a fixed four-year term starting third quarter 2009. The contract extension will start September 1, 2014, for three years through August 31, 2017.

John Lechner, President North Sea Region, commented, “We are extremely pleased to have secured the contract extension which is a demonstration of Statoil’s confidence that Archer continues to be their Drilling contractor of choice for the Peregrino Field in Brazil. Our staff in Brazil has worked diligently to deliver safe, efficient and cost-effective operations through the last four years in Brazil.”

He added that, “The dedication and commitment shown by the two hundred and ten Archer employees supporting the contract since start-up has earned Archer the opportunity to further develop their business relationship with Statoil for the next three years.”

Archer, a leading provider of Platform Drilling services, currently operates a total of 33 platforms in the North Sea and in Brazil, including the platforms for the Greater Ekofisk Area.