Offshore drilling contractor Shelf Drilling has entered into agreement to sell its Main Pass I jack-up rig for $11 million and retire it from drilling operations.
Shelf Drilling said the Main Pass I rig will be permanently retired from drilling operations, with the major drilling equipment and inventory removed for use across the the company's fleet.
The sale is subject to customary closing conditions and is expected to close by February 2025.
Shelf Drilling has now served notice to terminate the drilling contract that was suspended in respect of the Main Pass I rig in the Middle East earlier this year.
To remind, Saudi Aramco suspended Shelf Drilling’s Main Pass I and Main Pass IV rigs from operations offshore Saudi Arabia in April 2024.
Since, the Saudi oil and gas giant issued two more suspension notices to Shelf Drilling, for its High Island IV and High Island II jack-up rigs.
