Reference is made to the announcement by Shelf Drilling on July 30, 2024 regarding the agreement to sell the jack-up rig Baltic for total consideration of USD 60 million. Today, the Company announces completion of the sale of the Baltic and receipt of funds.
With reference to the previous press release, the buyer intends to deploy the rig on a multi-year, plug and abandonment ('P&A') program in Malaysia, and Shelf Drilling has agreed to provide rig management and operations support to the buyer for the upcoming P&A campaign.
Source: Shelf Drilling
