Shelf Drilling Secures Multi-Year Contract with ONGC for Jack-Up Rig Deployment

UAE-headquartered offshore drilling contractor Shelf Drilling has recently signed a lucrative multi-year contract with India’s Oil and Natural Gas Corporation (ONGC) for the deployment of a jack-up rig in the Mumbai High offshore region.

The contract, valued at approximately $40 million, spans three years and involves the utilization of the J.T. Angel jack-up rig. The rig, built in 1982 and of F&G L780 Mod II design, boasts impressive drilling capabilities with a maximum depth reach of 25,000 feet and accommodation for 112 personnel.

Greg O’Brien, CEO of Shelf Drilling, expressed his satisfaction with the new contract, stating, “We are pleased to continue supporting ONGC with the award of this new contract. The competitive environment in India remains robust, and we are confident in the long-term prospects of this strategic market.”

As part of its fleet optimization strategy, Shelf Drilling has decided to divest the Trident XII rig for non-drilling purposes. The rig, currently stacked in India after completing its contract with ONGC that commenced in October 2021, will undergo a sale process following the completion of its obligations in March 2025.

Furthermore, Shelf Drilling recently secured a contract extension with Aramco for the deployment of the High Island V jack-up rig on a five-year assignment, further solidifying its presence in the offshore drilling market.