Shelf Drilling announced that it has received a three-year contract award for the J.T. Angel jack-up rig with Oil and Natural Gas Corporation (ONGC) for operations in the Mumbai High, offshore India. The total added contract value is approximately USD 40 million. The rig is currently undergoing a contract preparation project, with operations expected to commence in October 2025.
Greg O’Brien, CEO, commented: “We are pleased to continue supporting ONGC with the award of this new contract. The contract reflects the near-term competitive environment in India, which is a strategically important market for Shelf Drilling, and we remain confident in its long-term fundamentals.”
Separately, as part of the Company’s on-going review of its fleet, it has determined to dispose of the Trident XII, which completed its drilling contract with ONGC earlier this year and is currently stacked in India. The intended sale will be for non-drilling purposes. The Company will provide updates in due course.
