The five Arctic regions of Russia, Alaska, Norway, Greenland and Canada holda tremendous potential for both discovered and undiscovered reserves of Oil andGas. The USGS estimates 160 BBO, and 1,670 TCF of natural gas reserves in theArctic, with most of these reserves being located offshore. The Arctic region, however, presents its own unique challenges; extreme low surface temperatures, a highly fragile environment protected by strict regulatory controls, very highcost of operations - and of failure prevention, and a narrow weather window tooperate. Combined, these challenges leave no room for complacency whileplanning an Arctic drilling campaign. The drilling tubular risks are mainlyaccentuated during transportation, storage, and surface handling in thepermafrost region. In order to drill safely and reliably in such harsh surfaceconditions, ordinary drillstring solution is neither considered safe norreliable due to the adverse and unpredictable effect of extereme lowtemperatures on mechanical properties of steel. VAM Drilling has successfullydeveloped and deployed proprietary Arctic steel grades that deliver a greatcombination of strength and ductilitly at temperatures as low as −60°C(−76°F).

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