Oslo-listed jackup rig player Shelf Drilling has landed a five-year contract extension with Saudi Aramco for its High Island V unit.
The total added contract value is about $133m, the UAE-based company said in a filing.
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The extension will take effect immediately following the current fixture, securing operations through July 2030.
“The contract extension reflects our client’s recognition of the High Island V team’s outstanding safety and operational track record over more than 10 years,” said Shelf Drilling CEO Greg O’Brien, adding that the Middle East remains an important part of the company’s business, and that it is committed to sustaining its long-term presence in the region.