New Drilling Contract for “HAKURYU-11” (Vietnam)

Japan Drilling Co., Ltd. agreed to provide drilling services with a jack-up drilling rig ”HAKURYU-11” to certain operator based on the subcontract with PetroVietnam Drilling & Well Services Corporation who secured the drilling contract from the operator.

　The main terms of the drilling contract are as follows:

　　1. Period of Contract ：2 firm wells (120 - 160 days) + additional works for

　 2 wells (25 – 30 days)

　　2. Estimated Commencement Time ：Between mid of March and mid of April 2024

　　3. Operating Area ：Offshore Vung Tau, Vietnam