NOL: Contract Award for Deepsea Mira

11 Dec 2025 15:37 CET

11 December 2025 – Hamilton, Bermuda

Northern Ocean Ltd. (“NOL”) announces the signing of a contract with a
subsidiary of Shell plc (“Shell”) for the Deepsea Mira, commencing operations in
Namibia in April 2026. The contract covers one firm well and includes one
optional well, with an estimated duration of 45 days for the firm well and a
projected firm backlog of approximately USD 16 million. This contract will
increase NOL’s firm backlog to approximately USD 387 million.

For inquiries, please contact:
Arne Jacobsen, Chief Executive Officer: +971 55 639 0860
Jonas Ytreland, Chief Financial Officer: +47 994 65 550

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