Shelf Drilling has reported two new contracts and one long-term extension for its jackup fleet.
The Dubai-based offshore driller has landed a brand new three-year take care of PTTEP in Thailand for the 2007-built Shelf Drilling Enterprise with a further one-year possibility connected to the contract. The contract will begin in July 2022, following the conclusion of its present deal in April 2022 and a subsequent contract preparation undertaking.
In the meantime, a two-well contract has been secured with Cairn India for the 1982-built Key Singapore, starting in Could 2022 and lasting for round six months.
Along with contract awards, Eni declared 18-months of choices on its contract for the 1980-built Key Manhattan, which ought to hold the rig in use till August 2023.
“Our advertising momentum continued within the fourth quarter with long-term contract extensions in India, Italy and Thailand. As of December 31, 2021, our contract backlog was $1.7bn with 28 of our 30 rigs beneath contract, representing a marketed utilisation of 93%. We firmly imagine that the worst of the pandemic’s impacts are actually behind us and anticipate that the present oil and gasoline value atmosphere and bettering rig provide and demand stability will lead dayrates increased within the months forward,” stated David Mullen, CEO of Shelf Drilling.