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Odfjell Drilling Ltd: Odfjell Well Services secures Tool Rental contract with Shell

25.09.2013

HAMILTON, BERMUDA, 25 September, 2013: Odfjell Well Services has been awarded a contract for Tool Rental Services for Shell operated activities in Northern Europe. The contract has a total value of NOK 320 million including options. Odfjell Well Services is a part of Odfjell Drilling Ltd.

The Tool Rental contract covers the activities of Nederlandse Aardolie Maatschappij BV (NAM), Shell UK Ltd, Shell E & P Ireland Ltd and A.S. Norske Shell. Starting 1st July 2013, the contract will run for four years plus two times two-year extension options. Under the contract, Odfjell Well Services will provide the Northern European  Shell operated entities with rental of drill strings and accessories, related handling equipment and downhole tools.

"The new contract with the Northern European Shell operated companies confirms our market position in Northern Europe. We have supported Shell's well operations since 2005 and are pleased to continue the excellent cooperation. The new contract further strengthens our organizations in Norway, Netherlands and UK", says Simen Lieungh, CEO of Odfjell Drilling.

Odfjell Well Services supplies a wide range of services to the oil industry, ranging from drill tool rental, tubular rental, casing, and tubing running services. Building on a long history and a track record of innovation, the company has built strong customer relationships with a client base comprising several major oil companies as well as smaller oil companies and service providers.

Odfjell Drilling recently announced its intention to launch an IPO for the combined Odfjell Drilling Ltd. Group, which comprises assets and activities within Mobile Offshore Drilling Units and Drilling & Technology in addition to the Well Services segment.

Now into its fifth decade of operations in the offshore industry, Odfjell Drilling continues to offer technologically advanced engineering, drilling and well services and a modern fleet of high-capability drilling units designed for ultra-deepwater and harsh environments. The company has built long-standing relationships with solid operators both in the legacy market in the North Sea and in deepwater regions around the globe. Odfjell Drilling currently employs approximately 3,100 people in some 20 countries worldwide.

For further queries, please contact:

Gisle Johanson, SVP Communications, Odfjell Drilling

+47 414 40 050

gijo@odfjelldrilling.com

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