Oslo-listed offshore drilling contractor Shelf Drilling has secured a ten-year contract extension for the High Island IX jack-up rig.
The contract for the 1983-built, 2012-upgraded jack-up drilling unit is in direct continuation of its current contract in Saudi Arabia.
"The contract dayrate allows for annual rate adjustments based on the previous 12-month average Brent crude oil price. Following this extension, the expected availability of the rig is June 2031," Shelf Drilling said.
While the drilling firm did not say who the client was, its fleet status report shows that the Marathon LeTourneau 82-SD-C design rig is employed by Saudi Aramco in Saudi Arabia.
Shelf Drilling bought the rig from Transocean in 2012 when it acquired 38 jack-up rigs from the Swiss-based drilling giant.
Also, the contract extension with Saudi Aramco is the second rig contract announced by Shelf Drilling in as many days.
The company on Wednesday said it had won a three-year contract with India's ONGC for its Trident XII jack-up drilling unit.