Shelf Drilling Announces Two Contract Extensions in Thailand

04 Nov 2024 07:14 CET

PRESS RELEASE

SHELF DRILLING ANNOUNCES TWO CONTRACT EXTENSIONS IN THAILAND

Dubai, November 4, 2024 – Shelf Drilling, Ltd. (“Shelf Drilling” or the
“Company”, OSE: SHLF) announced today that it has secured contract extensions
for the Shelf Drilling Chaophraya and Shelf Drilling Krathong jack-up rigs with
Chevron Thailand Exploration and Production, Ltd. for operations offshore
Thailand. Both extensions are for a firm period of two-years. The combined
contract value for the incremental firm term is approximately USD 197 million.
The contract extensions will commence in the second half of 2025 in direct
continuation of the rigs’ current commitments.

Greg O’Brien, CEO, commented: "These rigs were custom built with unique offline
capabilities for Chevron’s factory-style operations in the Gulf of Thailand. We
thank Chevron for their continued trust in Shelf Drilling as we work together to
achieve operational excellence."


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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