b'training courses and secondments and participation in special projects at IOCs. Our intensive competency and capability development program is designed to identify and address any competency gaps.This deepening of expertise helped support the successful execution of Staatsolie s Shallow Offshore Bid Round, one of 2021s major accomplishments. In October, Staatsolie signed an offshore PSC with Chevron for Block 5 in the shallow offshore. In December, a farm-outPROJECTING agreement brought in Shell as a partner. ThisSUCCESS:agreement marks the first time Staatsolie will participate as an offshore partner, with a 40Staatsolie is acquiring the skills percent interest. Staatsolie, through and knowledgeall the offshore data and subsurface resources subsidiary Paradise Oil Company, will be a and moreto be Masters of the non-operating partner. Basin, so our IOC partners will value our active participation.This PSC and Joint Venture agreement provideGLENN CORRIE prolific opportunities for Staatsolie to realizeVice President Offshorevalue and enhance its technical skills. The PSC carries Staatsolie through the exploration and appraisal stages and Staatsolie only begins financially contributing during the developmentBecoming an active and strategic 2021KEY FOCUSstage, minimizing financial exposure during thepartner in the offshore by further enhancing basin knowledge and initial stages when risk is higher. Our subsidiarydeveloping geo-technical skills. Paradise Oil Company has set up a dedicatedPreparation and execution of theNOV technical team to interact with subsidiaryWest Shallow Offshore bidding round.partners, enhancing the technical expertise of our workforce. S U EY FOC K Enabling further exploration success In the deep-water, 2021 saw additional discoveryand working with IOCs toward a and expanded exploration drilling. The yeardevelopment decision for Block 58. 2022 started off on a very positive note, with theParticipating in Shallow Offshore blocks 5 to 8.January Keskesi East-1 discovery by IOC partners TotalEnergies and Apache in Block 58. The exploration well showed very promising accumulation. Later in the year, an extension was tested with the Keskesi South 1 well. This well40 %did not confirm extension of the reservoirs due toStaatsolies working 4a mass transport phenomenon, but the data willHIGH-IMPACT be extremely important to understand the areainterest, through our EXPLORATIONaround Keskesi East 1. Paradise Oil Company WELLSsubsidiary, in IOC joint scheduled to beBlock 58, site of three major discoveries in 2020,venture in Shallow drilled in 3 is now also in the appraisal phase. Offshore Block 5deep-water blocksin 202237'