August 7, 2025 – Dubai — Shelf Drilling has announced a significant milestone with its first contract in the Dutch North Sea. The agreement was awarded to Shelf Drilling North Sea (SDNS), a subsidiary of the company, and involves the deployment of the Shelf Drilling Winner jack-up rig for operations led by Tenaz Energy Corp.
This development follows the expansion of Tenaz Energy’s footprint in the Netherlands, following its recent acquisition of Nederlandse Aardolie Maatschappij B.V. (NAM), formerly a Shell–ExxonMobil joint venture. The acquisition has positioned Tenaz as a major operator in the Dutch offshore energy sector, particularly as the Netherlands prioritizes domestic natural gas production to enhance energy security and reduce reliance on imports.
Contract Overview
The contract covers a firm one-year drilling program, with provisions allowing for a conversion into a three-year term should the client choose to extend the project within the first six months of operation. Shelf Drilling indicated that rig operations are expected to begin in October or November 2025, following the completion of its current engagement in Denmark.
This contract marks a strategic advancement for Shelf Drilling, enabling the company to establish a presence in the Dutch offshore market—an area traditionally dominated by European operators. The use of the Shelf Drilling Winner rig reflects the company’s ongoing focus on deploying fit-for-purpose, high-specification jack-ups for shallow-water drilling programs.
Industry and Market Context
The Dutch North Sea has seen renewed investment in recent years, as the Dutch government has encouraged upstream oil and gas activity in response to declining domestic production and broader geopolitical concerns over energy supply. Shelf Drilling’s entry into this market reflects both the attractiveness of these emerging opportunities and the adaptability of its regional fleet strategy.
The Shelf Drilling Winner is a modern jack-up rig capable of operating in harsh environments, making it well suited for the Dutch sector’s technical and regulatory standards. The contract is expected to contribute to Shelf Drilling’s long-term revenue base and support its goal of expanding operations in Northern Europe, where activity levels are projected to remain strong through 2026.
Outlook
This first Dutch contract underscores Shelf Drilling’s strategic push into new markets and comes as the company continues to align with clients seeking reliable partners for multi-year field development programs. With the potential for a three-year extension, this deal strengthens the company’s portfolio and reinforces its capabilities in competitive offshore regions.
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