KEY POINTS
- Shelf Drilling has secured significant jack-up rig contracts for offshore drilling projects in West Africa.
- The contracts support oil exploration in a region rich in untapped reserves, boosting local energy production.
- The new deals reinforce Shelf Drilling’s position as a leading provider of offshore drilling services in the region.
Offshore drilling services provider Shelf Drilling has secured a string of jack-up rig contracts for oil exploration in the West African region. The contracts are a big achievement for the company as it secures its operations in a region that has enormous potential for oil reserves.
Business development in a strategic Area
West Africa is endowed with some of the world’s best prospects and Shelf Drilling’s recent contract awards are expected to significantly contribute to the energy growth in the region.
The firm, which operates in the provision of shallow water drilling rigs, will use its superior jack-up rigs to assist in the search and production of hydrocarbons in the territorial waters of several West African countries.
As reported by Oil Review Africa, these contracts are expected to be multi-year in nature, which will enable Shelf Drilling to secure long-term business in support of regional energy developments.
The company’s rigs are designed for operation in harsh environments which makes them suitable for the deep-water environment that is characteristic of the West African region.
Supporting regional energy growth
The new contracts arrive at a time when West Africa depends on oil production to support the local economies. Nigeria, Angola and Ghana for instance rely on oil exports to generate government revenues and foreign exchange earnings.
Through Shelf Drilling’s participation, offshore drilling activities are likely to be stepped up in these nations so that they can exploit more of their oil resources.
Therefore, West Africa will benefit from increased energy production, employment opportunities and economic development as Shelf Drilling expands its operations in the area.
The company’s innovative technology and skilled staff will enhance the prospects of offshore drilling and enhance the local energy structures that are in dire need of such services.
Enhancing the company’s position as the market leader in shelf drilling
The latest contract awards demonstrate that Shelf Drilling has been able to maintain its performance in the offshore drilling industry by winning big contracts. Having delivered several successful drilling solutions in the Middle East, Southeast Asia and Africa, the company has established itself as a key supplier of jack-up rigs.
Deepwater oil fields in West Africa have drawn interest from the global market, and Shelf Drilling is well-placed to be a strategic partner in assisting countries to realize their full energy potential.
The new contracts are expected to consolidate the company’s position in Africa, expand on the existing contracts and increase the company’s participation in the African oil search.
An optimistic view of the West African oil sector
The increasing interest in the establishment of offshore drilling in the West African region is an indication that the region’s oil sector is set for a bright future.
Major players such as Shelf Drilling are bringing in the required technology and experience to make West Africa the next hot spot for oil production which will be beneficial for the local economies.
Though issues like volatility in the price of oil and political instabilities are still apparent, the long-term gains of the enhanced drilling activities are apparent.
The new contracts of Shelf Drilling give a ray of hope that West Africa will remain an active participant in the global energy supply and will help maintain energy security and economic growth in the region.
