Shelf Drilling said that it has secured contracts for the Adriatic I and the Shelf Drilling Mentor jack-up rigs for
operations offshore Nigeria for firm durations of 16 months and 8 months, respectively. The combined estimated contract value for the two rigs is approximately USD 93 million, excluding revenues for mobilization and demobilization.

 Both rigs completed their previous contracts in September 2023 and are scheduled to commence their new contracts in October 2023 following brief periods between contracts. The Adriatic I is now firm until February 2025, and the Shelf Drilling Mentor is firm until June 2024.

Shelf Drilling has also made a recent disclosure of the company’s award of a two-year contract for the Shelf Drilling Scepter for drilling operations offshore Nigeria. The drilling contract which is valued for the firm period, including mobilization revenue, is approximately USD 118 million. The contract also includes a one-year option, and the planned start-up of operations since May 2023.

In December 23, 2022, Shelf Drilling, made similar announcement as the company secured a one-year contract for the Trident VIII jack-up rig for operations offshore Nigeria. The rig which completed a short out-of-service project prior is expected another contract commencement in Q2 2023.