Archer to boost Norwegian headcount to 2000 by year-end

Oil services company Archer will increase its Norwegian workforce by 30 percent to 2000 people by the end of 2018.

Archer said in its second-quarter 2018 financial report on Tuesday that the increase of its workforce would come as additional four platform crews would start working for Equinor in the fourth quarter of 2018.

These crews will be employed as a result of a contract Archer won with Equinor (then Statoil) in April,  for the provision of drilling services on a total of 12 fixed platforms located on the Norwegian Continental Shelf (NCS), including the Grane, and Gullfaks A, B and C platforms.

Apart from supporting Equinor, additional personnel support growing activity across its other Eastern Hemisphere divisions, Archer said.

John Lechner, CEO at Archer said: “We remain on track in our preparations to mobilize to the four additional platforms awarded by Equinor, which we will begin operating at the beginning of the fourth quarter. The addition of these platform crews, along with increased personnel coming on board to support growing activity across our other Eastern Hemisphere divisions, will see our Norwegian headcount increase by about 30% to 2,000 by year-end.”

Archer recorded revenues of $224.4 million in the second quarter of 2018, an increase when compared to $209.2 recorded in the second quarter of 2017.

Net loss was $7.4 million compared to a profit of $ 112.9 million a year ago. Worth noting 2q 2017 net income of  $112.9 million was mostly attributable to effects from refinancing.

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