The Dubai-headquartered and Oslo Stock Exchange-listed offshore drilling contractor Shelf Drilling, Ltd. (Shelf Drilling) has secured a one-year extension for the jack-up rig Key Manhattan, in direct continuation of its current contract with Italian oil major Eni S.P.A.
Shelf Drilling reveals that the rig is now committed until November 2026 with one year of additional options thereafter and that the total added contract value is approximately $29m.
“This additional backlog creates further revenue and cash flow visibility for Shelf Drilling through 2026. We are very pleased to continue our long-standing collaboration with our customer with this contract extension. The Key Manhattan team has consistently delivered an outstanding safety and operational track record for over 15 years, and we remain committed to building on this performance and driving continuous improvement,” says Greg O’Brien, CEO of Shelf Drilling, Ltd.
