Norway's oil and gas company OKEA has received consent from the country's offshore safety regulator for
exploration drilling in the Norwegian Sea, using one of Transocean's semi-submersible rigs.

The Petroleum Safety Authority Norway (PSA) recently gave OKEA consent for exploration drilling in block
6407/9 in the Norwegian Sea. The prospects, Springmus East and Garn West South, are located in production
licence 093, which was awarded on 9 March 1984 and is valid until 9 March 2024.

OKEA holds an ownership interest of 44.56 per cent and acts as the operator of the licence, while its partners are
Petoro (47.88 per cent) and M Vest Energy (7.56 per cent).

The consent covers wells 6407/9-SME and GWS. The water depth at the location is around 279 metres (SME)
and 266.6 metres (GWS). These wells will be drilled with the Transocean Endurance rig.

The 2015-built Transocean Endurance is a semi-submersible CAT D rig of GVA 4000 NCS design. It can
accommodate 130 people. The rig's maximum drilling depth is 27,887 ft. It was constructed at Daewoo
Shipbuilding & Marine Engineering in South Korea.

Originally, it received the Acknowledgement of Compliance (AoC) from the PSA in 2016 when it was called
Songa Endurance. Following a change in rig ownership, Transocean applied for a new AoC and changed the
name of the rig to Transocean Endurance. The new AoC was received in July 2019.

This rig has a multi-well plug and abandonment assignment lined up in Australia, which is expected to start in
January 2024.