Shelf Drilling Secures New Contracts Worth $14 Million

Oslo-listed jackup rig player Shelf Drilling has recently announced winning one short-term contract and one extension for its rigs.

Contract Details

The 2007-built Shelf Drilling Enterprise has secured a contract for one firm well in Vietnam, with an estimated duration of three months from an undisclosed customer. The rig is set to begin operations in early October 2025 after completing its previous campaign in Thailand in late July.

The Trident 16 has been awarded a three-month extension in direct continuation of its current contract with Petrobel for operations in the Gulf of Suez offshore Egypt. The rig will remain employed until November 2025.

The company stated that the combined value of these two awards is approximately $14 million.

Fleet Status and Sale

Shelf Drilling also released its latest fleet status report, indicating a contract backlog of around $1.5 billion as of June 30, 2025. The company has added over five contract years to its backlog since then.

Furthermore, the 1982-built Trident XII jackup rig has been put up for sale. Currently stacked in India, the rig is available for purchase.

Recent Developments

These new contracts come on the heels of a $380 million offer from Saudi oil and gas driller ADES to acquire Shelf Drilling, showcasing the company’s continued growth and market interest.