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Deepsea Bergen receives a letter of intent for a one well contract

Odfjell Drilling has received a letter of intent from an undisclosed party for further employment for its 3rd generation semi-submersible, Deepsea Bergen, for one firm exploration well plus optional sidetrack and well testing on the Norwegian Continental Shelf (“NCS”).

The contract commencement is scheduled to Q4 2017 and has an expected duration of 40 days (excluding options).

Deepsea Bergen is currently operating for Statoil on the NCS until mid- July 2017. In December last year, Odfjell Drilling announced a new contract for Deepsea Bergen with Faroe Petroleum back to back with the said Statoil contract. The contract with Faroe Petroleum is for one well plus one optional well on the Norwegian Continental Shelf.  The unit has furthermore received a LOI for one HPHT-well plus two optional HPHT wells with start-up Q1 2018 as earlier announced.

For further queries, please contact: Eirik Knudsen, VP Corporate Finance & Investor Relations +47 934 59 173

Hamilton, Bermuda 3 April 2017 Odfjell Drilling Ltd.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.