Shelf Drilling Secures $200M Contract Extensions with Chevron for Thailand Ops
November 4, 2024
Offshore drilling contractor Shelf Drilling has secured contract extensions for two of its jack-up rigs with Chevron Thailand Exploration and Production for operations offshore Thailand.
The contract extensions are for Shelf Drilling Chaophraya and Shelf Drilling Krathong jack-up rigs. Both extensions are for a firm period of two-years.
The combined contract value for the incremental firm term is approximately $197 million. The contract extensions will begin in the second half of 2025 in direct continuation of the rigs’ current commitments.
Shelf Drilling Chaophraya and Shelf Drilling Krathong jack-up rigs are of LeTourneau Super 116 E design, built in 2016 and 2017, respectively.
The rigs are capable of operating in water depths of up to 350ft and for use in constructing wells with maximum drilling depth of 30,000ft. The units feature specifically fit-for-purpose offshore drilling technology, and accommodations for 160 persons.
"These rigs were custom built with unique offline capabilities for Chevron’s factory-style operations in the Gulf of Thailand. We thank Chevron for their continued trust in Shelf Drilling as we work together to achieve operational excellence,” said Greg O’Brien, CEO of Shelf Drilling.
