Shelf Drilling jackups win work in Asia
Shelf Drilling Secures New Contracts Amid Acquisition Talks
Oslo-listed Shelf Drilling has announced the acquisition of a new short-term contract and an extension for two of its rigs, indicating a robust operational outlook. The Shelf Drilling Enterprise will commence work on a firm well in Vietnam, while the Trident 16 has received a three-month extension for operations in the Gulf of Suez. Together, these contracts are estimated to be worth around $14 million.
Details of the New Contracts
The Shelf Drilling Enterprise, a jackup rig built in 2007, has secured a contract for one well in Vietnam that is set to last approximately three months. This contract comes from an undisclosed client and follows the rig’s recent campaign in Thailand, which concluded in late July. Operations in Vietnam are anticipated to begin in early October 2025, shortly after the rig’s mobilization.
Meanwhile, the Trident 16 rig, which has been under contract with Petrobel since February 2025, has successfully negotiated a three-month extension. This extension ensures that the rig will continue its operations in the Gulf of Suez offshore Egypt until November 2025. The combined revenue from these contracts is projected at about $14 million, contributing positively to Shelf Drilling’s financial standing.
Fleet Status and Future Outlook
In addition to the new contracts, Shelf Drilling released its latest fleet status report, revealing a contract backlog of approximately $1.5 billion as of June 30, 2025. Since that date, the company has added over five contract years to its existing backlog, further solidifying its position in the market.
These recent developments arrive shortly after an acquisition proposal from Saudi oil and gas driller ADES, which made a $380 million offer to purchase Shelf Drilling. The combination of new contracts and potential acquisition discussions highlights a period of significant activity for the offshore drilling company, as it navigates both operational growth and strategic opportunities in the competitive energy sector.
