OTL - bp exercise two year option for drilling services in the Clair field

31 Jul 2024 08:21 CEST

Odfjell Technology (UK) Ltd is pleased to announce the exercising of a two year
extension option on their contract with bp in the North Sea.

The contract is for the provision of platform rig operation and maintenance
services for the Clair Phase 1 and Clair Ridge facilities, located approximately
75 kilometres west of Shetland, as well as the Andrew platform.

This includes continuing in the Alliance agreement with bp and Baker Hughes to
improve production across the Clair field.

In addition, Odfjell Technology will continue to provide well services,
including equipment rental, wellbore clean-up and tubular running services. This
option extends the contract to 31 January 2027 and a further two year option to
extend remains thereafter. Under the contract, Odfjell Technology works to
deliver the best quality wells in a safe and efficient manner, providing value
through their integrated services provision.

Kurt Meinert Fjell, EVP Operations in Odfjell Technology commented “Odfjell
Technology has been supporting the Clair field since 2009. The exercising of
this option is testament to the hard work from the teams both offshore and
onshore and we look forward to continuing to work together to deliver results
safely.”

Contact Information:

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0) 7796 547 889
gbas@odfjelltechnology.com

and/or

Gert Haugland, SVP Finance & Investor Relations
+47 92661638
gjha@odfjelltechnology.com

Aberdeen, United Kingdom
31 July 2024
Odfjell Technology Ltd

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