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Wellhead Saver System (WSS) will redirect bending forces from the BOP away from the wellhead Drift-off is becoming an increasingly prominent issue due to increased use of deepwater rigs in shallow water WSS will reduce idle rig time, cut costs and deliver HSE benefits Stavanger, 21 February 2020 – Neodrill, known for its industry-leading CAN technology, has launched its new Wellhead Saver System. Designed to directly address the industry challenge of drift-off, it is estimated that the new solution will deliver savings in the order of 6 to 12 rig days on a typical well. Enhanced health and safety benefits are also a key part of the technology. ​ When deepwater rigs are used under shallow water conditions, the forces and bending moments from the BOP and riser are placed on the wellhead. The new WSS adapts the established CAN well foundation to redirect the bending forces away from the wellhead directly into the well foundation. By protecting the wellhead, conductor and casing from over-bending and over-stressing, it is possible to increase the drift-off distance before disconnect occurs. This allows the rig to stay on location and remain connected to the well in more severe weather conditions, saving idle rig time costs. ​ Compared to the traditional approach of tethering the BOP and wellhead system down, the WSS is connected to both the wellhead and the CAN, which allows it to act as a wellhead saver sub. This process enables drilling operations to take place without loading the original wellhead. It also facilitates installation of the production tree on a virgin wellhead. Compared to the BOP tethering system, a unique aspect is that it avoids long steel and fiber wires that may require re-tensioning during operations. ​ It is anticipated that the WSS will deliver cost savings and HSE benefits. The use of the CAN technology, as well as the reduced weight of the system in comparison to the BOP tethering system, also reduces the CO2 footprint. ​ Neodrill’s Chief Executive Officer, Jostein Aleksandersen said: “With the increased use of deepwater drilling rigs in shallow water operations, the underlying threat of ‘drift-off’ will increase substantially. Our Wellhead Saver System has been designed to overcome the challenges typically associated with the use of heavy BOPs on deepwater rigs in shallow water. ​ “Sitting as part of our new solutions offering, the WSS looks to bring a smart solution to the market to effect real positive change.”

CAN-complete will provide clients with a full service Engineering, Procurement, Construction and Installation (EPCI) solution The new service will see Neodrill manage all aspects of the CAN installation, resulting in project synergies, decreased overhead costs and streamlined processes Partnership will see Ross Offshore act as Neodrill’s marine department on installation activity Neodrill, the leader in pre-rig technology solutions, has launched a new service, the CAN-complete. The new offering will provide clients with a full service Engineering, Procurement, Construction and Installation (EPCI) for the subsea well tophole and structural foundation. As part of this, Ross Offshore will act as Neodrill’s marine and chartering department. ​ The CAN-complete service will see Neodrill manage all aspects of a CAN installation – simplifying the process for clients by removing unnecessary interfaces with multiple suppliers. Neodrill will design and deliver the CAN solution best suited to the soil conditions, before organising the installation vessel. The Neodrill team will then work in partnership with Ross Offshore for the installation and subsea activity. ​ The CAN-complete will result in a reduction in the oil company’s internal resources required, thereby reducing project overheads. It will also utilise synergies from other projects and deliver streamlined processes, making campaigns with different clients possible. A reduction in lead time will also be possible on some projects. This service has been launched in direct response to client feedback. ​ Commenting on the news, Neodrill’s Chief Executive Officer, Jostein Aleksandersen said: “Expanding into the service end of CAN installations is the natural next step for us at Neodrill. A number of our clients have recently asked us if we can manage the whole process and we are now pleased to be able to provide this to them. Neodrill will be a one-stop-shop for customers in terms of tophole and structural well foundation service, which will go along way towards streamlining the process and cutting costs further. “ As part of this offering, we are very proud to announce this partnership with Ross Offshore. Much-respected in the industry for the quality service and consultancy they deliver, we know it will be a strong and worthwhile partnership between our two companies.” ​ VP Ross Offshore, Operations, Jarle Vespestad said: “We have previously worked with Neodrill on several projects, towards the same goal of safe and efficient CAN installations for our clients. This partnership will capture both companies expertise giving the market, access to a tailor-maid EPCI solution for this scope.”

The projects represent Neodrill’s first and second 2-wells campaigns with Neptune Energy In the first campaign the 2 CANs were installed on two exploration wells in the Norwegian North Sea in April The second campaign is scheduled for December, where 2 CANs will be installed for the Tail well and Dugong appraisal well Neodrill’s CAN technology reduces environmental impact by up to 44% compared to conventional technologies for the top hole, saving 2-4 rig days per well Stavanger, 14 December 2020 – Neodrill, known for its industry-leading CAN technology, has signed a frame agreement and announced its first two projects with Neptune Energy. Two CAN-ductors were installed in April on two of Neptune Energy’s exploration wells in the Norwegian North Sea. In August, Neptune Energy and its partners announced the commercial discovery of oil at the Dugong well (PL882) in the Norwegian sector of the North Sea, one of the largest discoveries in Norway this year. The first campaign in April was the first delivery of a two-well campaign by Neodrill. It included one CAN-ductor installed on the Dugong well and another exploration well in the area. The second campaign is scheduled for December and includes one CAN-ductor on the Tail well and another on the Appraisal well. The innovative, new strategy of installing two CANs in one mobilisation makes a compelling value case. The ability to use one installation vessel across both wells results in cost savings, efficiency gains and reduced emissions. ​ The CAN technology has already been proven to reduce environmental impact by up to 44% on top hole activity, compared to conventional technologies. With one vessel being used for two wells, Neptune Energy’s overall emissions across the two campaigns will be substantially reduced. ​ “Neptune was pleased with the first installation of CANs earlier this year and are happy to be able to use this technology again on our Dugong drilling operations commencing in January 2021. Using the CAN technology enables lower environmental impacts compared to the conventional drilling, which is of high importance for our company,” says Thor Andre Løvoll, Director of Drilling & Wells, Neptune Energy Norge. ​ Løvoll explains that the environmental impacts are mainly lower due to the reduced rig time and need for casing materials. “We estimate a reduced rig time of 2-4 days per well, which also reduces the drilling cost for the Dugong Appraisal and Tail well,” adds Thor Andre Løvoll. ​ Citing the CAN’s successful track record, and an increased focus by operators on proven green technologies, Neodrill’s Chief Executive Officer, Jostein Aleksandersen said: “We are seeing a real tipping point in the industry at the moment as the movement away from traditional technologies gains traction. Clients want to see a new, dynamic approach that removes any unneccessary risks and costs to projects. What this new project shows, is that the belief and confidence in our value case to deliver efficiencies, in terms of cost and environmental benefits, is real. ​ “We look forward to continue working with Neptune Energy over the coming months on this second campaign.” -ENDS- ​ ABOUT NEODRILL Founded in 2000, Neodrill has developed a smarter structural well foundation, an innovative new way to facilitate the installation of conductors in pre-rig stage using light vessels. Using its patented CAN® (Conductor Anchor Node) technology, Neodrill works with oil and gas companies across the world on fields of varying operational conditions. By protecting the wellhead, the technology delivers a range of commercial, operational, and environmental benefits for exploration and production wells. Based in Stavanger, Norway, the company offers CAN-based solutions, with further opportunities to ‘build’ upon the technology. It is owned by Petropartner, Equinor, and its employees. For more information please visit www.neodrill.com. For media enquiries please contact: Blair Grant, phone +47 479 76 667, or on email blair@project-neon.com

Cut and recover allows the rig to leave the site as soon as the cement plugs are in place. The surface casing is then cut from a vessel, using the new tool, at the same time as the CAN is recovered Neodrill will offer the new ‘cut and recover’ service as part of its CAN-complete offering, reducing rig time by an estimated 12 hours World’s first project of this kind was performed for Wintershall DEA Norge in the Norwegian Sea in April Neodrill, the leader in pre-rig technology solutions, has together with Baker Hughes, the leading energy technology company, performed the world’s first cut and recover operation for Wintershall Dea Norge in the Norwegian Sea. Rig time was reduced by an estimated 12 hours, with work to cut the surface casing moved off the critical path of the rig schedule. ​ The project enabled the rig to adandon the well site as soon as the cement plugs were in place. The surface casing was then laterly cut from a vessel, using Baker Hughes’ new casing cutting tool. This optimized process removes the need for unneccesary, expensive rig time in the abandonment phase. ​ The new ‘cut and recover’ service will now be offered as part of Neodrill’s CAN-complete. The CAN-complete sees Neodrill offer a full service Engineering, Procurement, Construction and Installation (EPCI) solution to manage all aspects of a CAN installation, reducing the operator’s internal resource requirements and overheads. With the inclusion of cut and recover, the CAN-complete will now also reduce rig time in the abandonment phase by allowing the rig to leave the well site after setting the cement plugs. ​ Commenting on the news, Neodrill’s Chief Executive Officer, Jostein Aleksandersen said: “With every project, we carefully consider our approach and how it can be improved to drive forward even more cost savings for our clients. Our CAN technology has already been proven to reduce rig time by 2-4 days to establish a tophole foundation and now we are pleased to be reducing time in the abandonment phase too. As a team, we are very proud to have been involved in the world’s first ‘cut and recover’ operation. Working with Baker Hughes, we removed 12 hours from the rig schedule and delivered real cost savings for Wintershall Dea as a result.” ​ “The cut and recover service will be offered as part of our standard CAN-complete offering. At a time of uncertainty for the sector, we are proud to be bringing new solutions to the market that have a positive impact in terms of costs, safety and the environment.” ​ “The choice of the CAN-ductor was based on finding sustainable solutions for drilling in a sensitive area. It turned out to be economically sound also. The new recovery method is a continuation of the environmental focus and the cost-effective way of running this project”, Tore Øian, Head of Drilling in Wintershall Dea. Tom Huuse, Director, Norway & Denmark Oilfield Equipment for Baker Hughes said: “We are very pleased to partner with Neodrill to deliver for Wintershall Dea this cut and recover operation, using our leading technology that improves safety and effeciencies. We look forward to support our global customer base with our technology offerings." ​ -ENDS-

On the 22nd June 2018, the court ruled in favour of Neodrill in recent litigation between Neodrill and Equinor. Equinor claimed that some of Neodrill’s IP were invalid, and that their use of the Cap-X well foundations was therefore lawful. Equinor installed five Cap-X foundations in the Barents sea in the summer of 2017. In Neodrill’s view, this installment was an infringement on Neodrill’s patents, and Neodrill therefore claimed damages for this illegal use. In Neodrill’s view, the preliminary injunction in May of 2017 was correct. Equinor claimed damages for costs which occurred as a result of the preliminary injunction in May 2017, which prohibited Equinor from using the Cap-X foundations. ​ Neodrill has always claimed that their IP is valid, and that Equinor’s Cap-X foundations are an infringement of these patents. Neodrill further claimed that Equinor has illegally misused confidential Neodrill information in relation to the design and development of Cap-X. The latter constitutes, in Neodrill’s view, a breach of good business practice and is in itself a violation of Neodrill’s proprietary rights. The court ruled in favour of Neodrill on all counts and Equinor have been instructed to cover costs and pay damages totaling 45M NOK. Equinor have until the beginning of September 2018 to appeal this ruling. Neodrill have had a close relationship with Equinor since 2001 when they were part of Equinor’s supplier development program. Since 2010, Equinor has been the second largest owner of Neodrill and they continue to hold these shares.

In conjunction with Australian Oil & Gas 2018 an image of the CAN, during fabrication in a Batam construction yard has been featured on the front cover of Oil & Gas Australia. Together with our Perth based partner, ICON Engineering Pty Ltd we designed, fabricated and installed the first Conductor Anchor Node (CAN) in SE Asia. The CAN forms the beginning of an exploration well, providing huge load capacity in soft soils. The CAN is pictured here in a Batam construction yard prior to loading and seafastening. For more information on the Ferrand-1 project for Wood Energy click here

Article published in the Press & Journal.