Shelf Drilling secures jack-up rig contract offshore Egypt for $51 million

March 04, 2024

(WO) – Shelf Drilling, Ltd. has secured a two-year contract extension for the Rig 141 jack-up rig in direct continuation of its current term with Gemsa Petroleum Company (“Gempetco”) for operations in the Gulf of Suez offshore Egypt. The total estimated value for the contract extension is approximately $51 million.

141 Rig (Source: Shelf Drilling)

One year of the extension will be farmed out to Petrogulf Misr. Following this extension, the expected availability of the rig is February 2026.

Shelf Drilling is an international shallow water offshore drilling contractor with rig operations across Middle East, Southeast Asia, India, West Africa, Mediterranean and North Sea. Shelf Drilling was founded in 2012 and has established itself within its industry through its fit-for-purpose strategy and close working relationship with clients.

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