19 SHELF DRILLING

Shelf Drilling is an international shallow-water offshore drilling contractor with rig operations across the MENA region, Asia, and the North Sea. Shelf Drilling was founded in 2012 and has established itself as a leader within its industry through its fit-for-purpose strategy and close working relationship with industry-leading clients.

In October 2022, Shelf Drilling secured a five-year contract for the recently acquired premium jack-up rig Shelf Drilling Victory for operations in the Arabian Gulf. The contract value for the firm period, including mobilisation revenue, is approximately $236 million. The contract also includes a two-year option, and the planned start-up of operations is late-march 2023. Before commencing the contract, the jack-up rig is scheduled to complete a reactivation and upgrade project which is currently underway in the UAE. The company received an award for a three-year contract for its jackup rig with Oil and Natural Gas Corp for operations in Mumbai High, offshore India, which is expected to begin operations in the first quarter of 2023.