Shelf Drilling Secures Multi-Year Contract Extension with Aramco in the Middle East

UAE-headquartered offshore drilling contractor Shelf Drilling (SHLF) has landed a multi-year assignment for one of its jack-up rigs in the Middle East, where it will continue its drilling work with Aramco, Saudi Arabia’s energy giant.

While disclosing a five-year extension for the High Island V jack-up rig, Shelf Drilling highlights that this extension is in direct continuation of the rig’s current contract with the same customer, extending the commitment until July 2030.

With the total added contract value of approximately $133 million, the new long-term extension comes weeks after Aramco prolonged the jack-up’s stay in May 2025 by one month to July 2025. This 1981-built 270-foot jack-up was last upgraded in 2013.

Greg O’Brien, CEO, commented: “We are very pleased to announce this five-year extension of the contract for the High Island V. The contract extension reflects our client’s recognition of the High Island V team’s outstanding safety and operational track record over more than 10 years.

“We are proud of this performance and remain committed to delivering safe and reliable operations for our customer. The Middle East continues to represent an important part of our business, and we look forward to maintaining a long-term presence in the region.”

Shelf Drilling’s backlog as of March 31, 2025, was $1.6 billion, down from $2.14 billion at the end of December 2024 and $2.18 billion at the end of March 2024.