Company Disclosures

ODL – additional work added to Deepsea Stavanger Equinor Contract

Published 21.03.2022

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 late Q4
2022. 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 information, please contact:

Gillian Basson, Corporate Secretary
Mobile: +44 7796 547 889

Aberdeen, United Kingdom
21 March 2022
Odfjell Drilling Ltd.

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