High Arctic Overseas Holdings Corp., based in Calgary, Alberta, has announced its intention to recommence drilling activities in Papua New Guinea (PNG) following a recent contract renewal with its principal customer. The company received formal notice to mobilize personnel and equipment for the reactivation of Drilling Rig 103, set to begin in July 2026. The renewed drilling services contract, effective May 1, 2026, spans two years with an option for extension beyond April 30, 2028. CEO Mike Maguire expressed optimism about returning to drilling after a suspension, highlighting plans for reactivation and re-commissioning to ensure Rig 103 meets operational standards. The initial drilling of the first well is scheduled for Q4 2026, with a campaign that includes four approved wells and the possibility of additional unapproved wells. This development is expected to significantly benefit the local workforce, which has accumulated over 4.7 million incident-free work hours in PNG's challenging environment.