SFL Corporation Ltd. announced that it has signed a contract with a subsidiary of Galp Energia for the harsh environment semi-submersible rig Hercules with an estimated contract value of approximately $50 million. The contract is for two wells plus optional well testing and is expected to commence in the fourth quarter of 2023. Without any options, the duration is approximately 115 days including mobilization to Namibia.

Hercules is currently undergoing its special survey in Norway before its mobilization to Canada for a contract before commencing transit to Namibia.