Shelf Drilling Nets One-Year Rig Deal in Egypt

Jack-up drilling leasing company Shelf Drilling has won a contract extension for one of its offshore drilling units in Egypt.

The drilling contractor said Monday it had won a one-year contract extension for the Trident 16 jack-up rig. 

The contract will be in direct continuation of its current term with Belayim Petroleum Company ("Petrobel") for operations in the Gulf of Suez offshore Egypt. 

The Trident 16 has been working with Petrobel in Belayim fields since 2015, and following this extension, the expected availability of the rig is February 2021.

The drilling company did not share the financial details of the contract for the 1982-build jack-up drilling rig. Norwegian offshore rig brokers Bassoe Offshore have estimated the day rate to be around $45,000.