Offshore drilling firm Shelf Drilling has secured a five-year extension with Saudi oil and gas giant Aramco for its High Island V jack-up drilling rig.
The extension is in direct continuation of the rig’s current contract with Aramco, extending the commitment until July 2030.
The total added contract value is approximately $133 million.
High Island V is of Marathon LeTourneau 82-SD-C design, built in 1981, and upgraded in 2013, capable of operating at maximum water depth of 270 ft.
“We are very pleased to announce this five-year extension of the contract for the High Island V. The contract extension reflects our client’s recognition of the High Island V team’s outstanding safety and operational track record over more than 10 years.
“We are proud of this performance and remain committed to delivering safe and reliable operations for our customer. The Middle East continues to represent an important part of our business, and we look forward to maintaining a long-term presence in the region,” said Greg O’Brien, CEO of Shelf Drilling.