High Arctic Energy Services Secures Drilling Services Contract in Papua New Guinea

Red-Deer, Alberta-based High Arctic Energy Services, through its wholly-owned subsidiary High Arctic Energy Services PNG Limited, has secured an onshore drilling services contract with a subsidiary of Papua New Guinea's (PNG) Oil Search Limited (OSL) for a heli-portable rig that is currently being constructed in China. The rig will be delivered to PNG and is expected to become operational by the end of this year. Under the terms of the agreement, High Artic will lease and manage the rig on behalf of OSL. OSL is a large oil and gas company that operates all of PNG's oil and gas fields. High Arctic is a specialized oilfield equipment and services provider.

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