Company Disclosures

ODL – New Contract for Hercules, Offshore Namibia

Published 05.05.2023

Odfjell Drilling Ltd (“Odfjell Drilling” or the “Company”) is pleased to note
the announcement made by SFL Corporation Ltd (“SFL”), which states that the
Company, on behalf of SFL, has agreed with a subsidiary of GalpEnergia a
drilling contract for two wells in Namibia, using the Hercules rig. The contract
is expected to commence in Q4 2023 and has an estimated firm duration of 115
days including mobilisation to Namibia. This contract will follow the work
agreed with Exxon in Canada as per the announcement on 18 November 2022.

Kjetil Gjersdal, Chief Executive Officer of Odfjell Drilling AS commented:
“Since taking on management and marketing for the Hercules, we have worked
tirelessly on facilitating the vessel being ready for operations in Canada while
also working to secure work after this. Agreeing this contract with Galp
Energia, the third contract for work in Namibia we have agreed within the last
year, is very exciting for our Company and we look forward to working with SFL
and Galp Energia to meet expectations safely and efficiently.”

For further queries, please contact:
James Crothers, Investor Relations Officer
+44 (0) 7393 766 446
London, United Kingdom
5 May 2023
Odfjell Drilling Ltd

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