SED Energy Holdings Plc: EDrill-2 commences operations under multi-year contract with PTTEP
Nicosia, Cyprus - October 20, 2025 - SED Energy Holdings Plc (“Energy Holdings”) is pleased to announce that the tender-assist drilling rig EDrill-2, owned by its wholly owned subsidiary Energy Drilling, has successfully commenced operations under its previously announced five-year contract with PTT Exploration and Production Public Company Limited (“PTTEP”).
EDrill-2 mobilized to the Gulf of Thailand, where it began operations following the timely and on-budget completion of preparatory work in Singapore.
Marcus Chew, CEO of Energy Drilling, commented:
“We are very pleased to see EDrill-2 on location and commencing operations. I want to thank our offshore crews and onshore teams for their dedication and professionalism in ensuring a safe, efficient, and on-schedule start-up. We look forward to supporting PTTEP over the coming years and consistently meeting their expectations for high performance and reliability.”
The contract has a firm duration of five years with an additional three-year optional period. 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 total potential value of the contract is estimated at USD 250 million, assuming full exercise of the optional period and favourable index adjustments.
Kurt M. Waldeland, CEO of Energy Holdings, added:
“The start of operations for EDrill-2 marks an important step in delivering on our strategy. With all rigs fully contracted, we continue to deliver strong earnings visibility, supporting sustainable cash generation and attractive shareholder distributions.”
For more information, contact:
Investor Relations: [email protected]
Press: [email protected]
About Energy Holdings
SED Energy Holdings Plc (ticker code "ENH) is a strong industrial partner with a diversified portfolio of resilient, cash-generative assets supported by a robust revenue backlog and a conservative capital structure. Energy Holdings' primary focus is on distributing all excess liquidity to shareholders, while also pursuing disciplined, value-accretive growth. For more information, please visit www.energyholdings.cy.