Shelf Drilling Awarded a Short-Term Contract for Adriatic 1 in Nigeria

25 Apr 2023 10:20 CEST

PRESS RELEASE

SHELF DRILLING AWARDED SHORT-TERM CONTRACT FOR ADRIATIC I IN NIGERIA

Dubai, April 25, 2023 – Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”,
OSE: SHLF) announced today that it has secured a short-term contract for the
Adriatic I for operations offshore Nigeria, with a firm term of 90 days and an
estimated contract value of USD 11 million, excluding revenues for mobilization
and demobilization. The contract is scheduled to start in early May 2023.

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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