Saturday, June 29, 2013

High Arctic signs 3 year PNG contract renewals

Scandinavian Oil-Gas

High Arctic Energy Services Inc. has accepted a Letter of Award from Oil Search Limited for three year contract extensions for its primary contracts in Papua New Guinea (PNG). 
 High Arctic Energy Services Inc.-2

The extensions will cover the drilling contracts for Rigs 103 and 104 and the drilling support services contract related to the supply of personnel and rental equipment to support the related drilling operations. 
The new contracts are expected to be signed early in July once the agreed terms are incorporated into the amending agreements. 
 The new extensions will be effective July 1, 2013 for a three-year term to June 30, 2016.
Commenting on the renewal, Bill Easson, General Manager Drilling, for OSL, said; “The extension of these contracts reflects Oil Search’s recognition of, and confidence in, High Arctic’s quality service delivery in Papua New Guinea. Over the last six years, our companies have forged a strong partnership to safely deliver effective drilling results in a very challenging environment.”

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