Offshore drilling contractor Shelf Drilling has announced the successful sale of its Baltic jack-up rig for $60 million to an undisclosed buyer. The rig will be deployed on a multi-year plug and abandonment (P&A) program in Malaysia, with Shelf Drilling continuing to provide rig management and operations support for the upcoming campaign.
The Baltic jack-up rig, built in 1983 and later upgraded in 2015, is designed to operate in water depths of up to 375 feet (114.3 meters). The rig, originally known as GSF Baltic, was part of a fleet acquired by Shelf Drilling from Transocean in 2012, during Transocean’s exit from the shallow water drilling market.
The sale represents a significant milestone for Shelf Drilling, as the rig will continue to play a critical role in the P&A program, helping to close off wells that have reached the end of their productive life. Plug and abandonment is an essential operation in the oil and gas industry to safely decommission wells while protecting the environment.
By retaining management and operational oversight, Shelf Drilling is expected to ensure the successful execution of the P&A program while maintaining its strong industry presence in the region. This sale also highlights the ongoing demand for jack-up rigs in Asia, particularly for P&A operations, and underscores Shelf Drilling’s ability to optimize its assets while supporting long-term industry needs.
The strategic sale of the Baltic jack-up rig marks another chapter in its nearly 40-year journey, as it continues to provide critical services in offshore drilling operations.
