UAE-headquartered offshore drilling contractor Shelf Drilling (SHLF) has landed long-term extensions with Chevron Thailand Exploration and Manufacturing, a subsidiary of the U.S. oil main Chevron, for assignments two of its jack-up rigs are engaged on off the coast of Thailand.

These two-year contract extensions have been secured for the Shelf Drilling Chaophraya and Shelf Drilling Krathong jack-up rigs with Chevron for operations offshore Thailand. The primary rig has been below contract with Chevron in Thailand since December 2016, whereas the second joined the identical oil and gasoline participant in June 2017.

The mixed contract worth for the incremental agency time period will deliver the rig proprietor roughly $197 million, thanks to those contract extensions, which is able to start within the second half of 2025 after the rigs full their present commitments.

Greg O’Brien, Shelf Drilling’s CEO, commented: “These rigs have been customized constructed with distinctive offline capabilities for Chevron’s factory-style operations within the Gulf of Thailand. We thank Chevron for his or her continued belief in Shelf Drilling as we work collectively to realize operational excellence.”

The earlier extensions have been disclosed in 2021, when Chevron extended the Shelf Drilling Chaophraya rig’s job for 39 months and the Shelf Drilling Krathong rig’s work for 36 months with the beginning of the extension intervals anticipated in Q3 and This fall 2022, respectively.

The Shelf Drilling Krathong rig, delivered in April 2017 by the UAE-based offshore rig builder Lamprell, was designed and constructed in accordance with the specs of its sister rig, the Shelf Drilling Chaopraya, which was delivered to Shelf Drilling in September 2016.

These two LeTourneau Tremendous 116 Enhanced Class offshore drilling rigs characteristic high-specification offshore drilling expertise and have lodging capability for as much as 160 individuals.

Shelf Drilling not too long ago acquired an acknowledgment of compliance (AoC) clearance for a rig booked for work in Norway, which got here after a brand new set of drilling assignments for 2 jack-up rigs in West Africa.

The rig proprietor additionally not too long ago offered a jack-up rig slated for work on a decommissioning project in Malaysian waters with its new proprietor.