Shelf Drilling has announced the full execution of contracts and extensions worth $234 million (Dh863.04 million) for its jack-up drilling rigs, Shelf Drilling Achiever and Adriatic I, for offshore operations in West Africa.
The company has signed a three-year contract for the Shelf Drilling Achiever, destined for offshore Nigeria, with operations expected to commence in October 2024.
This contract also includes an option for another two-year extension at mutually agreed rates.
In addition, the company has been granted a two-year extension for the Adriatic I jack-up platform, which will commence operations in February 2025, immediately following the current drilling rig contract in Nigeria.
This extension also has a one-year option. The total five-year fixed period for both platforms, excluding mobilization and demobilization revenues, amounts to US$234 million.
Shelf Drilling CEO Greg O’Brien said: “These contracts in Nigeria contribute to significant backlog and revenue visibility for Shelf Drilling in 2025 and beyond. We look forward to continued strong safety and operational performance with the Adriatic I after many years of continuous operation in Nigeria and the successful commissioning of the Shelf Drilling Achiever later this month.”
Shelf Drilling had previously announced the award of contracts for the Shelf Drilling Achiever and Shelf Drilling Mentor in September.
The Shelf Drilling Mentor will cover ten wells with an estimated duration of 450 days, with a contract value of $60 million, which is a direct continuation of the rig’s current campaign in Nigeria. Shelf Drilling is also preparing the Main Pass IV installation for mobilization. Work is expected to start before the end of 2024, further expanding the company’s presence and operations in the region.
“Shelf Drilling wins $234 million in drilling contracts in West Africa” was originally created and published by Offshore Technology, a brand owned by GlobalData.
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