PRESS RELEASE

SHELF DRILLING ANNOUNCES NEW LONG-TERM CONTRACT IN THE DUTCH NORTH SEA 


Dubai, August 07, 2025 - Shelf Drilling, Ltd. ("Shelf Drilling" or the
"Company", OSE: SHLF) announced today that a subsidiary of Shelf Drilling (North
Sea), Ltd. ("Shelf Drilling North Sea" or "SDNS") has secured a contract for the
Shelf Drilling Winner jack-up rig with Tenaz Energy Corp. ("Tenaz Energy") for
operations in the Netherlands. The firm term of the contract is one year, with
an option for Tenaz Energy to convert the term to three years within the first
six months of operations. The operations are expected to commence in October or
November 2025, shortly after completion of the rig's current contract in
Denmark.

This award represents Shelf Drilling's first contract in the Dutch energy
sector, where offshore activity is scaling up following the government's renewed
focus on strengthening domestic gas production. Tenaz Energy became the
second-largest operator of natural gas assets in the Dutch North Sea earlier
this year through its acquisition of Nederlandse Aardolie Maatschappij B.V.
("NAM"), formerly a 50/50 joint venture between Shell PLC and ExxonMobil
Corporation.

Greg O'Brien, CEO, commented: 
"We are very pleased to announce this contract for the Shelf Drilling Winner and
to establish our partnership with Tenaz Energy in the Netherlands. This award
marks a significant milestone for Shelf Drilling as we expand our footprint into
a new and active segment of the North Sea. We appreciate the opportunity to
support their multi-year development program and are fully committed to
delivering safe, efficient, and sustainable operations for Tenaz Energy."

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across the Middle East, Southeast Asia, India,
West Africa, the Mediterranean and the North Sea. Shelf Drilling was founded in
2012 and has established itself as a leader within its industry through its
fit-for-purpose strategy and close working relationship with industry leading
clients. The Company is incorporated under the laws of the Cayman Islands with
corporate headquarters in Dubai, United Arab Emirates. The Company is listed on
the Oslo Stock Exchange under the ticker "SHLF".

About Shelf Drilling North Sea
Shelf Drilling North Sea is a shallow water offshore drilling contractor
primarily operating in the North Sea. The company's fit-for-purpose strategy and
fleet of modern high-specification harsh environment jack-up rigs enable it to
offer a broad range of services in the shallow water drilling markets. SDNS is
incorporated under the laws of Bermuda. Since October 12, 2022, SDNS shares are
listed on the Euronext Growth Oslo Exchange under the ticker "SDNS".

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

Contact details
For questions or comments, please contact investor.relations@shelfdrilling.com.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.