Archer gets five-year North Sea contract with Chevron

Chevron has awarded John Fredriksen's Archer a five-year contract in the British North Sea. The agreement applies to two rigs and can be extended.

Fredriksen-controlled company Archer has landed a new five-year contract with US oil major Chevron.

The contract entails services such as drilling and maintenance of rigs in the British North Sea, where the US company operates. The deal is effective from May 1, 2019, with a term expiring in 2024 at the earliest. Chevron then holds options to extend the agreement twice with one-year terms.

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