Odfjell Rig III Ltd – Completion of Deepsea Aberdeen Special Periodic Survey

17 Jun 2025 07:10 CEST

Odfjell Rig III Ltd (OSE: ODRG) (“ODRG”) is pleased to announce the completion
of the Deepsea Aberdeen’s Special Periodic Survey (“SPS”), with the unit
returning to operations after three weeks of scheduled off-hire.

As a result, all of Odfjell Drilling Ltd’s (“Odfjell Drilling”) (the guarantor
of ODRG) own fleet rigs SPS projects are now completed, with all four SPS’s
being completed on time and on budget, with an average downtime below
expectations. In addition to the SPS scope, Odfjell Drilling materially upgraded
its rigs, installing a new BOP on Deepsea Atlantic, increasing the variable
deck-load capacity on Deepsea Atlantic and Deepsea Stavanger and completed
significant client-specific efficiency-enhancing investments as well as other
smaller upgrade projects.

Odfjell Drilling’s next SPS is scheduled to be the Deepsea Nordkapp in late
2028.

For further queries, please contact:

James Crothers, Investor Relations Officer
+44 (0) 7495 067 684
jchu@odfjelldrilling.com

London, United Kingdom
17 June 2025
Odfjell Drilling Ltd

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