The extended contract covers 2 drilling rigs, 13 workover units and 13 pulling units on Pan American’s Cerro Dragon field in the Golfo San Jorge basin in southern Argentina. The contract runs until 2Q25 and Pan American has the flexibility to adjust the level of activity up or down during the contract term. The total value of the contract is estimated at US$400 million, subject to actual activity level and services provided by Archer.
Dag Skindlo, CEO of Archer, commented: “Pan American is a leading energy company in Argentina, and we are pleased to continue our long relationship for an additional two years. The contract extension, including the renegotiated terms, constitute a reaffirmation of our mutual commitment to build on this relationship and to deliver safe and cost-effective operations in Argentina”.
Read the latest issue of Oilfield Technology in full for free: Issue 4 2021
The issue starts with a report from Rystad Energy focusing on the outlook for the upstream industry in the Middle East. The rest of the issue is dedicated to features covering production optimisation, drill bits, pipeline integrity, health and safety, and more.
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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/01022022/archer-awarded-two-year-contract-extension-for-drilling-services-in-argentina/
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