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Odfjell Drilling Ltd : Deepsea Atlantic resumes operations after special periodic survey

21.04.2014

Hamilton, Bermuda 21 April 2014. Odfjell Drilling's sixth- generation semisubmersible, Deepsea Atlantic, resumed drilling operations for Statoil on the Gullfaks field late evening on 20 April 2014 after an efficient and successful yard stay. The special periodic survey and the planned modifications were executed in 25 days, five days ahead of the scheduled 30 days and within budget of USD 55 million.

- We are proud of demonstrating our ability to surpass the high ambitions set for this yard   stay, says Simen Lieungh, CEO of Odfjell Drilling

Deepsea Atlantic has undergone a full five year special periodic survey in addition to the following modifications:

- Change of topdrive

- Change of two thrusters

- Change of N-line (a part of the compensation system for BOP/ Riser)

- Change of valves under sea level

The total scope of work has been carried out according to the plan and requirements without any injuries to personnel or major incidents.

- Planning and performing efficient and safe yard stays is an important success factor for Odfjell Drilling and the Deepsea Atlantic yard stay adds to our proven track record. a. We believe these results will further strengthen Odfjell Drilling's reputation as an integrated service provider offering project management services for third party rig owners, says Simen Lieungh.

For further queries, please contact:

Media contact: Gisle Johanson, SVP Communications

email: gijo@odfjelldrilling.com

Mobile: +47 414 40 050

IR contact:Lasse H. Johannesen, VP Corporate Finance & Investor Relations

e-mail: laj@odfjelldrilling.com

Mobile: +47 995 06 908