UAE-based offshore drilling contractor Shelf Drilling has secured a one-year contract extension with Cabinda Gulf Oil Company (CABGOC), a subsidiary of Chevron, for its Shelf Drilling Tenacious jack-up rig in Angola.
The new deal follows a 15-month award made in June 2024 and will keep the rig working offshore West Africa until February 2027, with an option for an additional year. The firm extension adds an estimated $50 million in value.
Built in 2007 and upgraded in 2022, the Baker Marine Pacific Class 375 rig can operate in water depths of up to 375 feet and accommodate 150 crew members. It has been supporting Chevron’s operations in Angola since January 2022.
This latest extension comes amid increasing demand for Shelf Drilling rigs, following recent new contracts and renewals across its fleet. The deal also coincides with plans by ADES to acquire Shelf Drilling.
