ODFJELL DRILLING SOUTH AFRICA LTD.

1. ODFJELL DRILLING SOUTH AFRICA LTD. 2019-06-18 → present
2. ODFJELL WELL SERVICES EURASIA LTD 2019-01-18 → 2019-06-18
3. DEEP SEA BERGEN LTD 2016-09-20 → 2019-01-18

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the basis of the going concern assumption and the Directors have confirmed that this was realistic at the time the financial statements were approved, expecting adequate resources to continue operational existence. A Letter of Support from parent company Odfjell Rig Owning Ltd confirms no repayment of advances will be sought unless alternative financing is secured for at least 12 months from signing date.”

Significant events

• “Deepsea Bolista completed its contract with Chevron Namibia, at the end of January 2025. Deepsea Bollsta was then mobilised for work in Norway and left Namibia in February 2025.”
• “Deepsea Mira completed operations for Total Energies Namibia in May 2025. After an idle period of 77 days the rig commenced on a one well contract with Rhino Resources on 29 July. The well was completed 14 September, and the rig continued back to back on a contract with BW Energy, which was completed 23 November.”
• “The rig returned to Rhino Resources and continued until start February 2026, when the rig returned to Walvis Bay for an idle period. The rig is secured a contract with Shell Namibia commencing 1 April 2026. The Shell contract is firm until end Q2 2026.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -30.6%

  £45,275,375 → £31,428,887

• Cash

  -22.8%

  £3,956,152 → £3,055,765

• Net assets

  +19%

  £5,834,769 → £6,944,015

• Employees

  —

  Not reported

• Operating profit

  -0.7%

  £1,256,974 → £1,247,709

• Profit before tax

  -0.5%

  £1,392,113 → £1,385,627

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers