Shelf Drilling, Ltd. today announces that one of its subsidiaries has been awarded contracts for two newbuild jackup rigs by Chevron Thailand, a subsidiary of Chevron Corporation (NYSE : CVX). The two drilling contracts are for a five-year term each and the newbuild rigs are scheduled to commence operations offshore Thailand during the first and third quarter of 2017 respectively. The estimated revenues which could be generated over the five-year contract term are approximately USD 281 million for each rig, excluding revenues for mobilization, demobilization and miscellaneous adjustments. In connection with the contracts, Shelf Drilling will commission two fit-for-purpose newbuild jackup rigs based on the MLT Super 116 E design. A subsidiary of Shelf Drilling, Ltd.