PRESS RELEASE

SHELF DRILLING AWARDED TWO NEW CONTRACTS IN NIGERIA

Dubai, October 3, 2023 - Shelf Drilling, Ltd. ("Shelf Drilling" or the
"Company", OSE: SHLF) announced today that it has secured contracts for the
Adriatic I and the Shelf Drilling Mentor jack-up rigs for operations offshore
Nigeria for firm durations of 16 months and 8 months, respectively. The combined
estimated contract value for the two rigs is approximately USD 93 million,
excluding revenues for mobilization and demobilization. Both rigs completed
their previous contracts in September 2023 and are scheduled to commence their
new contracts in October 2023 following brief periods between contracts. The
Adriatic I is now firm until February 2025, and the Shelf Drilling Mentor is
firm until June 2024. 

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, Mediterranean and 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".

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

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


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