Papua New Guinea's dominant onshore drilling contractor has signed a three-year drilling services agreement with its "principal customer" as a signal that a rebound in exploration and development activity in PNG is under way.

High Arctic Energy Services said it had agreed terms with its principal customer in PNG for a three-year contract renewal covering customer-owned heli-portable drilling rig 103 and High Arctic’s services related to the supply of personnel, camp accommodation and rental equipment to support the drilling operations.