Norwegian offshore safety regulator has given Neptune Energy its consent to use an Odfjell Drilling-managed
semi-submersible rig for drilling activities at a prospect in the North Sea off Norway.

The Petroleum Safety Authority Norway (PSA) recently gave Neptune Energy consent to use the Deepsea Yantai
rig for the drilling of the appraisal well 35/6-4 (Ofelia) in the North Sea. The well is located in production licence
929, awarded on 2 March 2018 and valid until 2 September 2025.

Neptune Energy has an ownership interest of 40 per cent and acts as the operator of the licence, while its
partners are Aker BP (10 per cent), DNO Norge (10 per cent), Pandion Energy (20 per cent), and Wintershall
Dea Norge (20 per cent).

The 2019-built Deepsea Yantai rig is of a GM4D design and is capable of harsh environment operation. This rig –
formerly known as the Beacon Atlantic – is owned by China's CIMC and managed by Odfjell Drilling. Neptune
Energy extended the contract for the use of this rig in December 2022 for two firm wells in Norway.

The company obtained another consent from Norway's offshore safety regulator for exploration drilling in the
Norwegian sector of the North Sea at the start of June 2023 for the Cerisa prospect in production licence 636.
These operations are also expected to be done with the Deepsea Yantai rig.

This semi-sub has several jobs lined up for 2023. The most recent one was disclosed with ConocoPhillips
Skandinavia, which will see the rig drill one firm well with the option to drill two further wells in PL 891 in the
Norwegian Sea.