Dubai-based Shelf Drilling has secured a two-year contract for its rig Shelf Drilling Scepter in Nigeria for offshore operations.

The contract value, including mobilisation revenue, is about $118 million, the Oslo Stock Exchange-listed company said in a statement.

The contract includes a one-year extension option, with the planned operational start-up in May 2023.

The statement didn’t disclose other details including location and client name.

Shelf Drilling is a shallow-water offshore drilling contractor with rig operations across the Middle East, Southeast Asia, India, West Africa, Mediterranean and North Sea. The company is incorporated under the laws of the Cayman Islands with corporate headquarters in Dubai.

(Writing by P Deol; Editing by Anoop Menon)