It follows the extended term secured this May for ADES’ Sapphire Driller, also for operations offshore Qatar.
Aquamarine Driller’s new contract includes options for up to three further years. ADES estimates the value of the firm/optional extensions at $215 million.
Following completion of the transaction, which Shelf Drilling management has approved, the latter would be de-listed from the Oslo Stock Exchange.
Shelf Drilling’s focus is on shallow-water offshore drilling operations in the Middle East, Southeast Asia, India, West Africa, the Mediterranean and the North Sea.
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
