Shelf Drilling Secures New Contracts in Adriatic Sea

07 Dec 2022 14:35 CET

PRESS RELEASE

SHELF DRILLING SECURES NEW CONTRACTS IN THE ADRIATIC SEA

Dubai, December 07, 2022 – Shelf Drilling, Ltd. (“Shelf Drilling” or the
“Company”, OSE: SHLF) announced today that it has secured a three-year contract
for the Shelf Drilling Resourceful and a two-year contract for the Key Manhattan
with Eni S.p.A. (BIT: ENI) for operations in the Adriatic Sea offshore Italy.
Both contracts include multiple additional option periods, and the planned
start-up of operations is Q2 2023 and Q4 2023 for the Shelf Drilling Resourceful
and the Key Manhattan, respectively.

David Mullen, Chief Executive Officer, Shelf Drilling, said:
“We are very pleased to build on our long-standing business partnership with Eni
and expand our activity in the Adriatic Sea with these two contract awards. The
Shelf Drilling Resourceful will work alongside the Key Manhattan rig which has
delivered exceptional safety and operating performance to Eni since activity
commencement in 2010. We believe that our unique operating platform and best in
class safety and operating performance strongly positions us to reap the
benefits of an improving macro environment.”

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, Mediterranean and North Sea. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. The
company is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The company is listed on the Oslo
Stock Exchange under the ticker “SHLF”.

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

Contact details
For questions or comments, please contact communications@shelfdrilling.com.


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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