Shelf Drilling Scores Three-Year Jack-Up Deal With ONGC

Shelf Drilling Scores Three-Year Jack-Up Deal With ONGC
Shelf Drilling wins three-year deal for Parameswara jack-up drilling rig.

Offshore drilling company Shelf Drilling has won a three-year contract for one of its jack-up drilling rigs for work offshore India.

Shelf Drilling said on Monday that it was awarded a three-year contract for the Parameswara jack-up rig with Oil and Natural Gas Corporation (ONGC) for operations in the Mumbai High, offshore India.

The company added that the planned start-up of operations will be in the first quarter of 2022 but provided no further details regarding the contract.

What is known, however, is that the Parameswara jack-up is currently working for Adani. It will not travel far as it is working in India and, per the latest Shelf Drilling fleet status report, the deal with Adani is set to expire sometime this month. Initially, the rig started work with the company in December 2020 and the deal was extended once with the use of options.

As for the rig, the Parameswara is a 300-foot jack-up drilling rig of a Baker Marine BMC 300 IC design. It was built in 1983 and upgraded in 2001.

It is worth noting that ONGC has already booked one rig from Shelf Drilling this year. The rig in question was the J.T. Angel jack-up which was given a three-year contract in April 2021.

In its first-quarter results back in May 2011, the offshore drilling contractor claimed that the signs of the jack-up market improving were encouraging as it noted an increase in the global number of contracted jack-up rigs.

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