Shelf Drilling Secures Three-Year Contract with ONGC for J.T. Angel Jackup Rig

Oslo-listed jackup rig player Shelf Drilling has announced a significant contract win for its drilling rig, the J.T. Angel, with India’s ONGC. The three-year contract, valued at approximately $40 million, will see the rig operating in the Mumbai High area off the coast of India. Operations are set to commence in October 2025 after the completion of contract preparation activities.

“The contract reflects the near-term competitive environment in India, which is a strategically important market for Shelf Drilling, and we remain confident in its long-term fundamentals,” said Greg O’Brien, CEO of Shelf Drilling.

In addition to this contract, Shelf Drilling has decided to sell its 1982-built rig, the Trident XII, which recently completed its drilling contract with ONGC and is currently stacked in India. The sale of this rig will be for non-drilling purposes.

This news follows Shelf Drilling’s recent success in securing a five-year contract extension with Saudi Aramco for its High Island V unit, further solidifying its presence in the region.