Shelf Drilling extends and adds rig option in Africa

Oslo-listed jackup rig pure-play Shelf Drilling has lined up more work for its units in Africa with a contract extension in Nigeria and an amendment to its current contract in Angola, adding a further 15-month extension option.

In Nigeria, the 2010-built Shelf Drilling Mentor has secured a one-well extension with an undisclosed operator. The $16m deal is for around 120 days, which should keep the rig fixed into July next year.

Meanwhile, in Angola, Chevron’s subsidiary, Cabinda Gulf Oil Company, agreed to add 15 months of options to the Shelf Drilling Tenacious contract. The 2007-built rig has been working for Chevron since January 2022, and in January this year, its work scope was extended until November 2024.

Dubai-headquartered Shelf Drilling had a contracted backlog of $2.8bn at the end of the first quarter, with 34 of 36 rigs under contract, representing a marketed utilization of 94%.