Shelf Drilling Awarded New Contract In Vietnam

Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”, OSE: SHLF) and Shelf Drilling (North Sea), Ltd. (“Shelf Drilling North Sea” or “SDNS”) announced today a contract award for the Shelf Drilling Perseverance jack-up rig with PetroVietnam Domestic Exploration Production Operating Company Limited (PVEP POC). The rig will shortly commence mobilization to Southeast Asia, and the planned start-up of operations with PVEP POC in Vietnam is Q3 2024. The firm term of the contract is approximately 16 months, and the total estimated contract value for the firm period is approximately USD 73 million.

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-forpurpose 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”.

About Shelf Drilling North Sea
Shelf Drilling North Sea is a shallow water offshore drilling contractor primarily operating in the North Sea. The company's fit-for-purpose strategy and fleet of modern high-specification harsh environment jack-up rigs enable it to offer a broad range of services in the shallow water drilling markets. SDNS is incorporated under the laws of Bermuda. Since October 12, 2022, SDNS shares are listed on the Euronext Growth Oslo Exchange under the ticker “SDNS”. For more information, visit www.shelfdrilling.com.