Shelf Drilling Announces AOC Approval and Operational Update in Norway

24 Oct 2024 07:55 CEST

PRESS RELEASE

SHELF DRILLING ANNOUNCES AOC APPROVAL AND OPERATIONAL UPDATE IN NORWAY

Dubai, October 24, 2024 – Shelf Drilling, Ltd. (“SHLF” or “Shelf Drilling”) and
Shelf Drilling (North Sea), Ltd. (“SDNS” or “Shelf Drilling North Sea”) announce
that the Norwegian Ocean Industry Authority (Havtil) issued the Acknowledgement
of Compliance (AoC) for the Shelf Drilling Barsk jack-up rig. With the AoC
approval in place, operations are now expected to commence in the coming weeks.

Greg O’Brien, CEO, commented “This marks a critical step in preparing the Shelf
Drilling Barsk for its upcoming contract with Equinor. I would like to extend my
appreciation to our teams for their hard work and dedication during this
important process, ensuring that we meet the regulatory requirements for
operations in Norway. As we approach contract commencement in the coming weeks,
our focus is to complete our customer’s final rig acceptance process and
commence operations in a safe and efficient manner. We look forward to
delivering outstanding operational performance for our customer.”

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”.

About Shelf Drilling North Sea
Shelf Drilling North Sea is a shallow water offshore drilling contractor
primarily operating in the North Sea. The company's fit-for-purpose strategy and
fleet of modern high-specification harsh environment jack-up rigs enable it to
offer a broad range of services in the shallow water drilling markets. SDNS is
incorporated under the laws of Bermuda. Since October 12, 2022, SDNS shares are
listed on the Euronext Growth Oslo Exchange under the ticker “SDNS”.

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

Contact details
For questions or comments, please contact investor.relations@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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