PRESS RELEASE

SHELF DRILLING SECURES CONTRACT EXTENSION WITH EQUINOR IN NORWAY

Dubai, April 10, 2024 - 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 extension for the
Shelf Drilling Barsk jack-up rig with Equinor for operations at the Gudrun field
located in the Norwegian Continental Shelf. The firm term of the extension is
two wells with an estimated duration of 254 days in total. The contract
extension also includes options for three wells at Gudrun.

With reference to the press release on April 28, 2023, the Shelf Drilling Barsk
rig is scheduled to commence operations with Equinor at the Sleipner Vest field
in May 2024 with an initial scope of two wells and an estimated duration of 270
days, with options for two wells. In conjunction with today's extension, Equinor
has also exercised the first option well at Sleipner Vest with an estimated
minimum duration of 83 days. The contract value of the additional firm period
excluding certain integrated services is approximately USD 81 million. 

David Mullen, Chief Executive Officer, Shelf Drilling, said:
"We are pleased to strengthen our collaboration with Equinor with this important
contract extension. We see this as a reflection of Equinor's confidence in Shelf
Drilling to deliver these challenging wells on both Sleipner Vest and Gudrun. We
remain on track to commence our contract in May 2024 and are fully committed to
providing safe and efficient operations to Equinor."

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".

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.