Oslo-listed jackup rig player Shelf Drilling has won a three-year contract award for one of its drilling rigs from India’s ONGC.
The 1982-built J.T. Angel jackup was hired for operations in the Mumbai High area off the coast of India under a contract worth approximately $40m.
The rig is currently undergoing a contract preparation project, with operations expected to begin in October 2025.
“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,” said Greg O’Brien, Shelf Drilling CEO.
Separately, as part of the company’s ongoing review of its fleet, it has determined to dispose of the 1982-built 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.
This comes a week after Shelf Drilling landed a five-year contract extension with Saudi Aramco for its High Island V unit.
