Shelf Drilling adds $236m with fresh five-year jackup deal

Oslo-listed Shelf Drilling has secured a five-year contract for the recently acquired jackup rig Shelf Drilling Victory for operations in the Arabian Gulf.

The Dubai-headquartered jackup rig operator said the contract, including mobilisation, was worth around $236m with an additional two-year option attached.

The 2008-built rig, formerly known as Deep Driller 7, will start operations in late March next year. The unit is scheduled to complete a reactivation and upgrade project in the United Arab Emirates before commencing the contract.

Shelf Drilling acquired the rig from India’s Aban Offshore in June this year for $30m. The company, which has a fleet of 36 jackups, also recently clinched a two-year contract extension in Denmark for one of the rigs it purchased from Noble Corporation.