March 10, 2022 - Hamilton, Bermuda
 
Northern Ocean Ltd ("NOL" or the "Company") announces that the names of the
Company's rigs will be changed to Deepsea Mira and Deepsea Bollsta. 

The Company recently entered into operational and marketing agreements with
Odfjell Drilling AS ("Odfjell"), and the name change reflects the close
relationship with our new partner and a reintroduction of the fleet under new
management.

"We are very pleased to begin this next chapter with a premier driller like
Odfjell. We look forward to working closely with Odfjell and the E&P companies
as we build a new safe performance track record on the Northern Ocean fleet,"
says Scott McReaken, CEO of NOL.


Additional information about the Company can be found at: www.northernocean.no


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Forward Looking Statements

Matters discussed in this release may contain certain forward-looking statements
relating to the business, financial performance and results of the Company
and/or the industry in which it operates, sometimes identified by the words
"believes", "expects", "intends", "plans", "estimates" and similar expressions.
The forward-looking statements contained in this release, including assumptions,
opinions and views of the Company or cited from third-party sources, are solely
opinions and forecasts which are subject to risks, uncertainties and other
factors that may cause actual events to differ materially from any anticipated
development. The Company does not provide any assurance that that the
assumptions underlying such forward-looking statements are free from errors, nor
does the Company accept any responsibility for the future accuracy of the
opinions expressed in the presentation or the actual occurrence of the
forecasted developments. No obligations are assumed to update any
forward-looking statements or to conform to these forward-looking statements to
actual results.