Company Disclosures

ODL – additional work added to Deepsea Stavanger Equinor Contract

Published 04.07.2022

Equinor has exercised further work for the Deepsea Stavanger under the continued
optionality mechanism provided for in the contract entered into by the parties
in May 2021. Following this addition, the Deepsea Stavanger now has six (6)
remaining wells to be drilled which are expected to occupy the rig into Q2 2023.
Equinor has the opportunity to exercise further wells under the continued
optionality mechanism.

The day rate is similar to the current contract and a notable performance
incentive rate in addition shall apply when wells are delivered safely and ahead
of target. Integrated services are provided through the contract and compensated

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889

Aberdeen, United Kingdom
04 July 2022
Odfjell Drilling Ltd.

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