Shelf Drilling jack-up rig booked for work in Southeast Asia

Offshore drilling contractor Shelf Drilling has landed a long-term assignment in Southeast Asia, which enables one of its jack-up rigs to carry out drilling activities offshore Vietnam.

Shelf Drilling disclosed a contract win for the Shelf Drilling Perseverance jack-up rig on December 8, 2023. The rig’s new job is with PetroVietnam Domestic Exploration Production Operating Company Limited (PVEP POC).

According to the rig owner, the firm term of the contract is approximately 16 months, and the total estimated contract value for the firm period is around $73 million. The rig is expected to start mobilization to Southeast Asia soon. The planned start-up of operations with PVEP POC in Vietnam is slated for 3Q 2024.

The Shelf Drilling Perseverance jack-up rig completed a contract with IOG in the UK in July 2023. Afterward, the rig was available and marketed for opportunities worldwide. The 2008-built Shelf Drilling Perseverance rig is of Friede & Goldman JU-2000E design. This jack-up can accommodate 118 people and operate in water depths of 400 ft. The rig’s maximum drilling depth is 30,000 ft.

The new contract award comes two months after Shelf Drilling secured new deals for two jack-up rigs for operations offshore Nigeria and confirmed a new contract extension for another jack-up rig, which is working on the UK Continental Shelf (UKCS).