Saudi Arabia’s state-owned oil firm, Saudi Aramco, has awarded a 10-year contract extension to Dubai-based offshore driller, Shelf Drilling.
Aramco said its 1983-built jack up rig, High Island IX, will operate in the Arabian Gulf in direct continuation of its current contract.
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The renewal dayrate will allow for annual rate adjustments based on the previous 12-month average Brent crude oil price.
