Shelf Drilling has consistently  expanding its drilling operations in Nigeria, this is following the recently 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 have previously 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.

 In March  Shelf Drilling announced that it has secured a short-term contract for the Adriatic I for operations offshore Nigeria, with a firm term of 90 days and an estimated contract value of USD 11 million, excluding revenues for mobilization and demobilization. The contract is scheduled to start in early May 2023

The company has also secured a two-year contract for the Shelf Drilling Scepter for operations offshore Nigeria. The contract value 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.

Nigeria has being in the quest to ramp up its crude oil production level in meeting her OPEC quota and supply to newly private owned Dangote 600 barrels per day capacity refinery. The country has being riddled with incessant crude oil pipeline vandalism and theft which led to award of crude oil pipeline security contract to a private Security Company to forestall this economic sabotage.