North Drilling (HSHM) Lifts the Value of a Drilling Contract to 154.77 Million Euros After a Second Addendum

North Drilling Company (ticker HSHM) said in a group-B Codal disclosure (tracing no. 1631949, 10 November 2026) that the total value of one of its contracts, whose earlier notice was published on 24 December 2023 (3 Dey 1402) as tracing no. 1130448, has changed. Under addendum no. 2 the contract amount had been 154,009,548.73 euros and the overtime under that addendum is 758,022.18 euros; the new contract amount is stated as 154,767,570.91 euros.

The company attributes the change to landslide and two-stage casing cementing work on wells 21 and 25 to 28, plus plugging and re-flowing well 22 at Golkhari. The increase is about 0.5% of the contract and is unrelated to the four-new-rig contract North Drilling signed with National Iranian South Oilfields on 4 November 2026 (13 Aban 1405).