Shelf Drilling, a shallow water drilling services provider headquartered in the United Arab Emirates, has completed the acquisition of 37 drilling rigs, one swamp barge and associated operations from global offshore drilling company Transocean for US$1.05 billion. Shelf Drilling was created with financing from global private equity firms Castle Harlan, CHAMP Private Equity and Lime Rock Partners, and operates oil drilling rigs in Thailand, Malaysia, Indonesia, Vietnam, India, Nigeria, Gabon, Angola, Egypt, Saudi Arabia and Italy.