Odfjell Technology (the "Company") is pleased to announce the signing of a 5.5
(five and a half) year firm contract with ConocoPhillips Skandinavia AS (the
"Client") for our integrated services in the North Sea. 

The firm period of the contract has been agreed until 31 December 2031 and
represents a material increase to the Group's firm backlog.  In addition, the
new agreement includes two options, each with a duration up to five years.
 
The contract covers the provision of platform drilling operations and
maintenance services, tubular running services, well engineering, and well
planning in Norway.

The contract also covers options for the provision of downhole equipment and
Permanent Plug & Abandonment (PP&A) execution and forms a strong foundation for
the Group's ambition to grow in this market.

Kurt Meinert Fjell, EVP Operations at Odfjell Technology comments: 

"We are pleased to further strengthen our partnership through this contract. The
agreement underlines the strong relationship between our teams and provides a
strong foundation for continued innovation and value creation."

For further information, please contact:
Gillian Basson
Corporate Secretary
+44 (0) 7796 547 889
gbas@odfjelltechnology.com
Aberdeen, United Kingdom

or

Gert Haugland
SVP Finance & Investor Relations
+47 92661638
gjha@odfjelltechnology.com