Shelf Drilling, Ltd. (Shelf Drilling) announced that it has secured a two-year contract extension for the Rig 141 jack-up rig in direct continuation of its current term with Gemsa Petroleum Company (Gempetco) for operations in the Gulf of Suez offshore Egypt.

The total estimated value for the contract extension is approximately $51 million. One year of the extension will be farmed out to Petrogulf Misr. Following this extension, the expected availability of the rig is February 2026.