The Italian Job: Long Term Contracts for Shelf Drilling's Jack-up Rig Duo

Illustration - Credit:Bomboman/AdobeStock
Illustration - Credit:Bomboman/AdobeStock

Jack-up drilling rig contractor Shelf Drilling said Wednesday it had secured long term charters for two jack-up rigs in the Adriatic Sea with the Italian oil and gas giant Eni.

Eni has awarded a three-year contract for the Shelf Drilling Resourceful jack-up rig, and a two-year contract for the Key Manhattan rig for operations in the Adriatic Sea offshore Italy. 

Both contracts have a number of additional option periods, and the Shelf Drilling Resourceful and the Key Manhattan are set to start working in Q2 and Q4 of 2023, respectively.

David Mullen, Chief Executive Officer, Shelf Drilling, said: “We are very pleased to build on our long-standing business partnership with Eni
and expand our activity in the Adriatic Sea with these two contract awards. 

The Shelf Drilling Resourceful will work alongside the Key Manhattan rig, which has delivered exceptional safety and operating performance to Eni since activity commencement in 2010. 

"We believe that our unique operating platform and best-in-class safety and operating performance strongly positions us to reap the benefits of an improving macro environment.”

Shelf Drilling did not share the financial details of the contracts.

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