NOL: Contract Award for Deepsea Mira
https://newsweb.oslobors.no/message/661827
11 December 2025 – Hamilton, Bermuda Northern Ocean Ltd. (“NOL”) announces the signing of a contract with a subsidiary of Shell plc (“Shell”) for the Deepsea Mira, commencing operations in Namibia in April 2026. The contract covers one firm well and includes one optional well, with an estimated duration of 45 days for the firm well and a projected firm backlog of approximately USD 16 million. This contract will increase NOL’s firm backlog to approximately USD 387 million.
For inquiries, please contact: Arne Jacobsen, Chief Executive Officer: +971 55 639 0860 Jonas Ytreland, Chief Financial Officer: +47 994 65 55
https://newsweb.oslobors.no/message/661984
15 December 2025 – Hamilton, Bermuda
With reference to the stock exchange notice dated 17 November 2025, Northern Ocean Ltd. (“NOL”) announces that its subsidiary today has closed the sale of the Deepsea Bollsta to a Odfjell Drilling Ltd subsidiary, for a cash settlement of USD 480 million. NOL has simultaneously prepaid the remaining USD 285 million loan provided by a group of banks and reduced its loan facility with Sterna Finance Ltd., a company affiliated with the main shareholder Hemen Holding Limited, to USD 100 million.
For inquiries, please contact:
Arne Jacobsen, Chief Executive Officer: +971 55 639 0860
Jonas Ytreland, Chief Financial Officer: +47 994 65 550
This information is considered to be inside information pursuant to the EU Market Abuse Regulation. This stock exchange announcement was published by Jonas Ytreland, CFO of NOL on the date and time provided.