Dolphin Drilling AS — Capital/Financing Update 2019

Jun 17, 2019

Drilling contract for Borgland Dolphin in Norway

Drilling contract for Borgland Dolphin in Norway

Dolphin Drilling AS, a subsidiary of Dolphin Drilling ASA, has signed a contract

with A/S Norske Shell for drilling at the Knarr field on the Norwegian

continental shelf. The contract include drilling of one well and two one well

options, the fixed contract value is USD 15 million including mobilization cost.

Commencment window is February to May 2020. This contract reintroduces Dolphin

Drilling and Borgland Dolphin to drilling services in Norway.

Borgland Dolphin is currently undergoing preparation for contract start-up with

i3 Energy in the North Sea, UK sector, planned commencement July/August 2019.

Contacts:

Hjalmar Krogseth Moe Chief Financial Officer (+47) 22 34 10 00

Einar Tyssen Chief Business Development Officer (+47) 22 34 10 00