Archer awarded modular rig plugging and abandonment contract win with Statoil

2/11/2013

Archer awarded modular rig plugging and abandonment contract win with Statoil

HOUSTON -- Archer has secured a contract with Statoil for the permanent plugging and abandonment of 12 gas wells on the Heimdal field in the Norwegian North Sea using Archer’s latest ground-breaking modular rig, the Archer Topaz. The Heimdal rig is operated by Statoil with partners Total, Centrica and Petoro.

The total contract value, including the startup, operating and decommissioning phases, is estimated at $115 million. Operations are expected to commence in the second half of 2014 and the contract duration is 34 months with four option periods of three months each.

Carrying out plugging and abandonment operations on a modular rig is a first for Archer and the industry as a whole. This is a major advancement for the industry and will see safer, faster, more efficient plugging and abandonment operations and less people on board.

The Archer Topaz, Archer’s second modular rig, has been designed and will be built in cooperation with German rig manufacturer Max Streicher GMBH, in line with current NORSOK regulations. It has been developed to meet the specific requirements of the Heimdal contract which includes flexibility for the client as regards quick installation and removal times.

 The new modular rig will follow the design of Archer’s first modular rig, the Archer Emerald.

 

 

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