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Nigeria’s oil and gas fortunes are looking up, with Shelf Drilling’s latest award set to spur a new wave of exploration and production. The industry heavyweight will sink 10 new oil wells in the Niger Delta, a move expected to significantly boost output, with the entire project slated for completion in a mere 18 months.
With its global footprint spanning Dubai, Southeast Asia, India, West Africa, Egypt, Saudi Arabia, and Italy, Shelf Drilling is a powerhouse in the shallow water drilling sector. This international presence enables the company to tap into diverse markets, leveraging its specialized expertise to drive growth and innovation.
Shelf Drilling capped off the weekend with a major announcement: the company has secured lucrative new awards for two jack-up rigs in West Africa, building on their existing success in Nigeria. The contracts, valued at $60 million, represent a resounding vote of confidence in Shelf Drilling’s capabilities.
In a further testament to its growing momentum, Shelf Drilling revealed that it has received a letter of award for the Shelf Drilling Achiever, paving the way for a multi-year campaign set to kick off in October 2024.
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The company anticipates finalizing the contract for this program in the coming weeks, marking another significant milestone in its expansion trajectory.
Gbenga Komolafe, CEO of the NUPRC, has announced a major milestone in Nigeria’s oil and gas sector, with the country’s oil rig count soaring to 30, a significant increase from the 11 rigs in operation just over a decade ago.
This impressive growth trajectory underscores Nigeria’s determination to assert its position as a key player in the global energy landscape.
Komolafe linked the increase to NUPRC and other government stakeholders’ efforts to attract confidence and certainty into the oil and gas industry.
He said, “The country now has about 30 rigs in its upstream oil and gas sector, against 11 active rigs in 2011.“That is a huge success for us, and you know that rig count is a measure of vibrant activities in the oil industry. We have been able to attract confidence, certainty, and predictability into the industry.
“If you check, we’ve attracted capex going into billions of dollars into the Nigerian upstream. So, gradually, we are happy that we have success stories to tell just in about less than two and half years.”
The oil rig count refers to the number of active drilling rigs extracting oil from the ground at a given time. It is an important metric in the oil and gas industry, as it provides insight into the level of drilling activity, which can influence oil production levels and market dynamics.
Shelf Drilling has announced that its state-of-the-art rig, Shelf Drilling Achiever, is currently en route to Nigeria, being transported on a dry carrier, with an expected arrival date before the end of September 2024.
In a dual-pronged move, Shelf Drilling announced the mobilization of both the Shelf Drilling Achiever and Main Pass IV rigs to Nigeria, utilizing the same dry transport carrier. The Main Pass IV rig is also slated to commence operations before year-end 2024, following the company’s earlier announcement of 16- and 8-month drilling campaigns offshore Nigeria.
