Archer subsidiary wins contract in Argentina
Argentina 
BUENOS AIRES, May 10, 2017 – DLS Argentina, a subsidiary Norwegian oilfield services company Archer, will be awarded a contract to provide drilling services in southern Argentina for PanAmerican Energy.
According to an announcement made by Archer on Wednesday, PanAmerican will offer DLS a contract worth NOK 6 billion (USD 695.2 million) once PanAmerican’s board issues its final approval.
The contract will be effective immediately and span the next four years, covering all existing drilling and rig activity in PanAmerican’s Cerro Dragon field in the San Jorge Gulf Basin. Currently the company operates 7 drilling rigs, 11 workover rigs, and 11 pulling units.
The deal extends a working relationship the two companies have had since Archer began providing drilling, workover and pulling services for PanAmerican in 2011. PanAmerican also has the option to extend the contract for an additional two-year term, and can adjust the activity level of the arrangement as needed.
“This new contract provides a vote of confidence for the industry, community, and union personnel in Comodoro, Argentina and we look forward to the continued development of a sustainable market for all stakeholders,” commented Archer Western Hemisphere president Max Bouthillette.
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