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High Arctic Overseas to restart drilling in Papua New Guinea with renewed 2-year contract

Company Fundamentals
26 May 2026
GlobeNewsWire
View Source
Bullish
pluang ai news

High Arctic Overseas Holdings Corp. announced it will resume drilling operations in Papua New Guinea starting July 2026, following the renewal of its drilling services contract effective May 1, 2026, for two years with an option to extend. The company plans to reactivate Drilling Rig 103 and expects to begin drilling the first well in Q4 2026. This restart is significant for the local workforce and supports ongoing oil, gas, and mining projects in the region.

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