In March 2025, Archer announced Equinor’s award of a frame agreement for engineering and planning for the P&A of its subsea wells. With this contract, Archer has now been awarded the full planning and execution scope for the P&A operations.

The contract is structured to enable extensions to additional P&A projects across Equinor’s portfolio. The firm contract term is 3 years, including 2 options each of 2 years, with an estimated total contract value up to $140 million for the 30 subsea wells. Approximately 50% of the contract value relates to services delivered by Archer’s alliance partners.

The fully integrated P&A program incorporates the planning scope, including project management, well and subsurface engineering (provided through the Archer Elemental joint venture), with the execution scope, including wireline, fishing and remedial services, downhole mechanical isolation, P&A services, cementing, fluids, and mudlogging.

This award further reinforces Archer’s leading position within the P&A market and reflects its ability to deliver integrated well abandonment solutions from concept selection through to the permanent abandonment of wells.

Nicholas Pantin, EVP Well Services at Archer, commented: “We are honored by the signing of this contract, which further strengthens our long-standing relationship with Equinor and supports safe, efficient, high-quality, and innovative P&A operations. The award further reflects our team’s expertise in subsea well P&A planning and execution. We are proud to continue and expand our collaboration with Equinor.”