Oslo Stock Exchange-listed oil services company Archer is involved in negotiations to secure a multi-year plug and abandonment (P&A) assignment.
Archer has confirmed that it is in advanced negotiations on a major contract for delivery and abandonment services with an undisclosed company.
While the company has not disclosed any additional information at this stage, it has clarified that the potential contract is for a multi-year profit-and-acquisition scope that includes drilling, a combined maintenance unit and well services.
He added: “The two parties are in an advanced stage of negotiations, and we expect to sign the contract within a short period of time, but reaching a final agreement cannot be guaranteed.” Archer highlighted.
These negotiations come weeks after the company Acquired Multi-year contract extension with Equinor on the Norwegian Continental Shelf (NCS).
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