ARCHER AWARDED DECOMMISSIONING CONTRACT BY REPSOL SINOPEC IN UK NORTH SEA
Repsol Sinopec Resources UK Limited has awarded a $165 million decommissioning contract to Archer to execute the plug and abandonment (P&A) of 30 wells in the Fulmar Field and two wells in the Halley Field.
The contract is a fully integrated P&A project, covering the complete work scope, including a modular P&A rig, well services and well engineering. With over 45 years platform drilling experience in the UKCS, combined with the comprehensive portfolio in well services product lines, Archer is uniquely positioned in the industry to drive down cost and risk for P&A projects.
The Fulmar scope includes removal of the existing drilling facility and installation of one of our P&A rigs. In addition, we will deploy our broad P&A well services offering to reduce time and cost to plug each well. The scope of work will be delivered using cutting-edge technology, multiskilled crews and industry leading digital solutions in close collaboration with our partners. This new contract will commence immediately, and we expect integrated offshore P&A operations to commence in the second half of 2024 or early 2025.
The estimated value of this integrated contract stands at roughly $165 million spread over the next four to five years.
Archer, base in Sandnes, Norway, provided drilling and well services to the global energy industry.