May 4, 2021 - Hamilton, Bermuda 

Northern Ocean Ltd. "the Company") has received a termination notice from
Wintershall DEA Norge AS for the West Mira drilling contract, which was being
managed by Seadrill Europe Management AS, a subsidiary of Seadrill Limited. The
termination follows the extended downtime period after the operational accident
on March 19, 2021.  

The Company is working constructively with all its stakeholders and taking all
commercial and legal actions necessary to limit the implication for its
stakeholders.

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.