Shelf Drilling Ltd. and Shelf Drilling (North Sea) Ltd. have successfully secured a new contract with PetroVietnam Domestic Exploration Production Operating Company Limited (PVEP POC).

The contract involves deploying the Shelf Drilling Perseverance jack-up rig to Southeast Asia, specifically Vietnam.

The mobilization of the rig to the region will begin shortly, and operations with PVEP POC are scheduled to kick off in the third quarter of 2024.

The contract spans approximately 16 months, with a firm commitment, and holds a total estimated value of around $73 million during this period.