Shelf Drilling Announces Contract Update in North Sea

03 Apr 2025 08:29 CEST

Dubai, April 3, 2025 – Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”,
OSE: SHLF) announces today that it has received a notice of contract termination
for the Shelf Drilling Winner from the customer, TotalEnergies EP Denmark A/S
(“TotalEnergies”). Under the notice and in accordance with the contract, the
termination shall be effective during August 2025.

The Shelf Drilling Winner has consistently delivered outstanding operational and
safety performance while under contract with TotalEnergies. The rig’s contract
was originally scheduled to conclude in August 2026, subject to two additional
options to extend further into late 2027. However, following a thorough
evaluation of the original schedule, TotalEnergies has informed that the rig
will be released in summer 2025 after completion of the final scheduled well
activities, due to changes in the 2025 work program.

Shelf Drilling will continue to focus on delivering operational excellence
during the remainder of the term and will actively market the rig for future
opportunities.


About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across the Middle East, Southeast Asia, India,
West Africa, the Mediterranean and the 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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