ONGC has awarded Shelf Drilling a three-year contract for its jackup rig J.T. Angel, with an estimated value of approximately $40 million. The rig is currently undergoing preparations, with operations scheduled to commence in October 2025.
Shelf Drilling CEO Greg O’Brien commented on the award, stating: “The contract reflects the near-term competitive environment in India… and we remain confident in its long-term fundamentals.”
As part of its ongoing fleet management strategy, the company has elected to dispose of the Trident XII jackup, which completed a previous contract with ONGC earlier this year and is currently stacked in India. The unit will be sold for non-drilling purposes.
In related developments, Shelf Drilling also announced earlier this week that it has secured a five-year contract extension for the High Island V jackup rig.
According to the company’s May fleet status update, two of its rigs—High Island II and Shelf Drilling Victory—arrived in West Africa in April. High Island II was scheduled to begin a two-well contract in May. Additionally, Petrobel Egypt has extended the contract for the Trident 16 jackup through August 2025.