Shelf Drilling secures new contract in North Sea, extension in Egypt

Shelf Drilling secured a new contract for its premium jackup rig, Shelf Drilling Fortress, for operations in the UK Continental Shelf (UKCS) and a one-year extension for the Rig 141 in direct continuation of its current contract for operations in the Gulf of Suez, offshore Egypt.

The UKCS contract is for one firm well with an estimated duration of three months, and a total value of approximately $12 million. Operations are expected to commence in late August or early September 2025.

The additional one-year firm term extension in Egypt has a total estimated value of approximately $23 million. Following this extension, the expected availability of the rig is February 2027.