Two Year Jackup Extension in Egypt by Shelf Drilling

The Oslo-listed company specializing in jackup rigs, Shelf Drilling, has announced a two-year extension for its Rig 141, which is currently operating in the Gulf of Suez, offshore Egypt.

This extension, valued at approximately $51 million, seamlessly continues the rig's existing contract with Gemsa Petroleum Company (Gempetco), ensuring its operation in the area until February 2026.

Additionally, a portion of the extension, specifically one year, will be subcontracted to Petrogulf Misr.

Shelf Drilling, which is based in Dubai and manages a fleet of 36 rigs, reported a backlog of $2.3 billion at the close of 2023, with 35 of its rigs actively under contract.