Company Disclosures

ODL – Equinor exercises more work for Deepsea Atlantic

Published 18.08.2020

Equinor has today exercised three new wells for Deepsea Atlantic. The wells have
been exercised under the Continued Optionality mechanism in the contract entered
into between the parties in May 2018, as part of the overall Master Frame
Agreement. The work shall commence after the completion of the current scope
estimated to be in Q4 2020. The commercial terms are materially the same as for
the recently announced Johan Sverdrup Phase 2 letter of intent that is set to
commence in Q1 2022.

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

Aberdeen, United Kingdom
18 August 2020
Odfjell Drilling Ltd.

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