UAE’s Shelf Drilling works on new 16-month contract in Vietnam
Shelf Drilling, a UAE-headquartered leading contractor of jack-up rigs, says it has commenced work on a new contract with Petrovietnam Exploration Production Corporation Petroleum Operating Company (PVEP POC).
The company said in its Q2 review that a rig commenced operations in Vietnam early this month.
Total operating and maintenance expenses increased to $38 million in Q2/2024 compared to $35.3 million in Q1/2024. The increase of $2.7 million was primarily due to “higher contract preparation expenses” for one rig in Vietnam, the company said.
A rig operated by Shelf Drilling. Photo courtesy of the firm.
According to the review, the rig operating in Vietnam is Shelf Drilling Perseverance, a self-elevating drilling unit per F&G JU-2000E design that is capable of operating at a maximum water depth of 400 feet.
In December 2023, Shelf Drilling and its subsidiary Shelf Drilling (North Sea) announced that they’d won a 16-month contract with PVEP POC to have the rig operate in 12 wells.
The $73 million contract ends November 2025.
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