Dolfines

Regulatory News Service • Mar 12, 2025

Signature of a major framework contract for rig inspection with Abu Dhabi National Oil Company (ADNOC)

As part of its strategy of signing framework contracts to project large volumes of activity over several years, DOLFINES SA announces the signing of a 5-year rig inspection framework contract with the Offshore Division of ADNOC (Abu Dhabi National Oil Company).

Founded in 1971, ADNOC is a leading diversified energy group, 100% owned by the Abu Dhabi government. Nearly 150 rigs are currently in operation in Abu Dhabi, representing one of the largest drilling markets in the world.

This signing comes less than a month after the signing with PDO (Petroleum Development Oman) of a framework contract for the inspection of rigs with a potential value of \$200,000 to \$500,000 per year for 5 years.

The framework contract with ADNOC OFFSHORE covers the inspection of all units (Jack Up, Barges, Island Rigs) operating in the Emirate's offshore fields. The potential revenue generated by this activity could exceed \$1 million per year over the next 5 years. The contract will take effect on April 29, 2025.

At the same time, the ADNOC Division managing the Ghasha concession has extended by 2 years from March 2025 a framework contract signed in March 2020 with DOLFINES for the inspection of rigs.

Commenting on the signing, Adrien Bourdon Feniou, Chairman and CEO of DOLFINES, said: "The intensification of our strategy of responding to major calls for tenders with major operators in the Middle East continues to bear fruit. After the contract signed in mid-February with Petroleum Development Oman, it is the turn of the major Abu Dhabi operator, ADNOC, to take note of DOLFINES' expertise by awarding it this framework contract, which is very structuring for the company's financial balances over the next 5 years – and by proposing a two-year extension for a previous framework contract.

Beyond this success, I would like to highlight the importance of strengthening our activity with a group that is not only one of the world's leading producers of low-carbon oil and gas, but also invests heavily in renewable energies and decarbonization technologies, as a shareholder of MASDAR in particular, one of DOLFINES' strategic markets. »

About Dolfines: www.dolfines.com

Founded in 2000, DOLFINES is an independent specialist in engineering and services in the renewable and conventional energy industry. Faced with the challenges of decarbonizing the energy sector and capitalizing on its strong expertise, DOLFINES wants to play a key role in this energy transition by designing and providing innovative services and solutions for the exploitation of renewable energy sources onshore and offshore, above and below sea level. Respecting the highest standards of quality and safety, DOLFINES is labelled an innovative company certified ISO 9001 for its technical assistance, auditing, inspection and engineering activities.

Euronext GrowthTM

DOLFINES is listed on Euronext GrowthTM – ISIN Code: FR001400SP13– Mnemonic Code: ALDOL - DOLFINES is éligible to PEA-PME

Contacts: DOLFINES: Delphine Bardelet Guejo, CFO - delphine.bardelet@dolfines.com