The global leader in offshore jack-up drilling rigs Shelf Drilling is benefiting in a big way from vigorous demand in the Middle East with its 36 units nearly fully utilised and its backlog strong.

The Oslo-listed company said its backlog as at 31 December 2022 was $2.7 billion with 35 of its 36 rigs under contract.

“After several challenging years, the industry has reached an inflection point.