Shelf Drilling introduced that one in all its subsidiaries has entered right into a definitive settlement with ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), to promote the Shelf Drilling Journey jack-up drilling rig for a complete consideration of USD 77.6 million. Seller has been designated as an unrestricted subsidiary as outlined within the relevant financing agreements of the Company’s subsidiaries. The transaction is topic to customary closing circumstances, and the rig is predicted to be delivered throughout the first quarter of 2021.
Shelf drilling Journey is a Gusto MSC jackup mannequin CJ46-X100-D succesful to drill in 350 ft of water. The unit was inbuilt China by China Merchants Industry (CMHI). The newbuild jack up was transported to Bahrain in June 2019 with the OHT Osprey. Journey is presently prepared stacked in Bahrain.
Shelf Drilling Ltd is the United Arab Emirates-based jack-up contractor with concentrate on shallow water drilling. The Company’s fleet consists of greater than 30 jack-up rigs for gasoline and oil exploration. The rigs are situated in such nations as Bahrain, Egypt, the United Arab Emirates, Saudi Arabia, Nigeria, India, Malaysia, Thailand and Italy. The Company’s buyer portfolio contains Shell, ONGC, Saudi Aramco, ADNOC Drilling, Petrobel, Amapetco, Conoil and Chevron, amongst others.
(Source: Shelf Drilling – Image: loading of Shelf Drilling Journey and Shelf Drilling Achiever being loaded on OHT Osprey/OHT)
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