Shelf Drilling Awarded Three-Year Contract in India with ONGC

02 Jul 2025 13:59 CEST

PRESS RELEASE

SHELF DRILLING AWARDED THREE-YEAR CONTRACT IN INDIA WITH ONGC

Dubai, July 2, 2025 – Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”,
OSE: SHLF) announced today that it has received a three-year contract award for
the J.T. Angel jack-up rig with Oil and Natural Gas Corporation (ONGC) for
operations in the Mumbai High, offshore India. The total added contract value is
approximately USD 40 million. The rig is currently undergoing a contract
preparation project, with operations expected to commence in October 2025.

Greg O’Brien, CEO, commented: “We are pleased to continue supporting ONGC with
the award of this new contract. The contract reflects the near-term competitive
environment in India, which is a strategically important market for Shelf
Drilling, and we remain confident in its long-term fundamentals.”

Separately, as part of the Company’s on-going review of its fleet, it has
determined to dispose of the Trident XII, which completed its drilling contract
with ONGC earlier this year and is currently stacked in India. The intended
sale will be for non-drilling purposes. The Company will provide updates in due
course.

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 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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