Shelf Drilling announces successful contract awards for the Adriatic I and Shelf Drilling Mentor jack-up rigs in Nigeria, with a combined estimated contract value of $93 million.

Shelf Drilling, a leading offshore drilling company, has recently secured contracts for two of its jack-up rigs, namely the Adriatic I and the Shelf Drilling Mentor, for offshore operations in Nigeria. These contracts guarantee firm durations of 16 months for the Adriatic I and 8 months for the Shelf Drilling Mentor. The total estimated contract value for both rigs stands at approximately $93 million, exclusive of revenues for mobilization and demobilization services.

The jack-up rigs have recently completed their prior contracts in September 2023 and are set to commence their new contracts in October 2023, following brief inter-contract periods. The Adriatic I is secured until February 2025, while the Shelf Drilling Mentor's contract is confirmed until June 2024.

Shelf Drilling has not disclosed the identity of the clients associated with these contracts.

This announcement follows Shelf Drilling's recent achievement of securing a two-well contract extension for the Shelf Drilling Fortress jack-up rig, which will operate in the UK North Sea.