ADES has announced that it has signed a contract renewal for one of its standard offshore jackup rigs. The unit was among the six suspended rigs that were previously operating in the Kingdom of Saudi Arabia (“KSA”).
The contract renewal is for a firm duration of ten years, adding significant long-term revenue visibility and backlog sustainability.
The…
ADES Holding Company has received a letter of award (LOA) for an offshore jack-up drilling contract in the Gulf of Thailand with an estimated backlog of SAR 1.03 billion.
The Saudi group was awarded the deal from PTTEP Energy Development Company Limited (PTTEP), according to a bourse filing.
It holds a tenor of a five-year firm period…