Stockholm, 13 March 2019

Drilling management contract awarded to Exceed

Svenska, as operator for Block 2 and Blocks 4A & 5A in Guinea Bissau has signed a Drilling Management Contract with Exceed Ltd. The contract is to manage the drilling of a deep water well in Block 2. The Atum and Anchova prospects in the western part of the licensed area are currently the main drilling targets.

The project will comprise full well project management services to deliver a deep-water exploration well – the first deep water well to be drilled offshore Guinea Bissau.

Exceed’s work scope will include all front-end engineering planning, service procurement support, logistical set-up, HSE management (including systems permitting) and operational execution of the well.

Svenska farmed in to the Guinea-Bissau licences, covering Blocks 2, 4A and 5A, in 2007. When the previous operator, Premier Oil, decided to withdraw from the licences, Svenska assumed the operator’s role with an increased equity.