Shelf Drilling signs jackup rig extension for work offshore Egypt

Shelf Drilling secured a two-year contract extension for the Rig 141 jackup rig in direct continuation of its current term with Gemsa Petroleum Company for operations in the Gulf of Suez offshore Egypt.

The total estimated value for the contract extension is approximately $51 million. One year of the extension will be farmed out to Petro Gulf Misr. Following the extension, the expected availability of the rig is February 2026.