Nicosia, Cyprus - July 4, 2025 - with reference to the stock exchange
announcement on May 27, 2025, SED Energy Holdings Plc ("Energy Holdings") is
pleased to announce that its wholly owned subsidiary, Energy Drilling, has
signed a five-year contract with PTT Exploration and Production Public Company
Limited ("PTTEP") for an offshore drilling campaign using its tender-assist
drilling rig, EDrill-2.
"We are honored to continue our long-standing relationship with PTTEP and
grateful for their continued trust in our team and our assets. This contract
is a strong testament to the performance of EDrill-2 and our crews," said
Marcus Chew, CEO of Energy Drilling.
The contract has a firm duration of five years, with an additional three-year
optional period, and is scheduled to commence in October 2025. It includes a
rate adjustment clause based on a market index, applicable during the final
two years of the firm period and throughout the optional period. The contract
will contribute significantly to Energy Holdings' backlog and earnings
visibility, with a potential total value of USD 250 million, assuming full
exercise of the option period and upward index adjustments.
"This long-term contract with a leading regional operator further strengthens
our position in the Southeast Asian offshore drilling market. It also adds to
our already strong revenue backlog, enhancing our capacity to deliver
sustainable cash flows and attractive shareholder distributions over the next
several years," added Kurt. M. Waldeland, CEO of Energy Holdings.
Contact information:
Investor relations: ir@energyholdings.cy
Press: contact@energyholdings.cy
About Energy Holdings
Energy Holdings is a strong industrial partner with a diversified portfolio of
resilient, cash-generative assets supported by a conservative capital
structure, a robust revenue backlog and a conservative capital structure. With
a solid foundation for attractive capital returns, Energy Holdings' primary
focus is on distributing all excess liquidity to shareholders, while also
pursuing disciplined, value-accretive growth. Its current portfolio includes
wholly owned subsidiaries Energy Drilling, a leading owner and operator of
tender assisted drilling rigs, and SeaBird Exploration, a global provider of
marine seismic acquisition data to the oil and gas industry. For more
information, please visit www.energyholdings.cy.