Equinor extends contracts with Archer, Odfjell Drilling, KCA Deutag

Equinor is exercising options worth $899.9 million (NOK 8 billion) with Archer, KCA Deutag and Odfjell Drilling. The contracts include drilling, completion, intervention services, plugging, maintenance and modifications on 19 of Equinor’s permanent installations.

The four-year agreements were signed in 2018. Exercised for two years from the end of 2022, the options cover the same scope of work as previously regulated by contract. The contracts provide jobs for around 2,000 people each year.

“We have had a long-term and good cooperation with the suppliers, with safe and efficient operations as our top priority. These contract extensions will help ensure predictability for the parties and safe and efficient well deliveries. Together with our suppliers, we want to develop these services further to ensure long-term value creation from our installations,” said Erik Gustav Kirkemo, Senior VP for Drilling and Well Operations at Equinor.

“The contracts and services have been developed in close cooperation with our suppliers over several years and will help ensure common competitiveness and sustainable activity level. We appreciate suppliers who, in addition to being competitive, help develop our industry further,” said Mette Halvorsen Ottøy, Chief Procurement Officer at Equinor.

Archer received extensions for work on the Grane; Gullfaks A, B and C; Njord; Sleipner A; Snorre A and B; Statfjord A, B and C; and Visund fields. Odfjell Drilling received extensions for the Heidrun and Johan Sverdrup fields. KCA Deutag received extensions for Kvitebjørn and Oseberg B, C, South and East.