Shelf Drilling, Ltd. (Shelf Drilling”, OSE: SHLF), announces that one of its subsidiaries has entered into an agreement with a subsidiary of Aban Offshore Limited to purchase the Deep Driller 7 jack-up drilling rig for a purchase price of USD 30 million.
The Deep Driller 7 rig was built in 2008 and is of Baker Marine Pacific Class 375 design, currently located in the United Arab Emirates.
Shelf Drilling plans to fund the acquisition of the premium highspec jack-up rig with cash on hand.
The transaction is subject to customary closing conditions, and the rig is expected to be delivered in July 2022.