ADES Holding has secured two new offshore drilling contracts in the Middle East.
One award is from North Oil Co. for a project offshore Qatar, and it is an extension of the existing contract for the Sapphire Driller jackup rig, with an improved day rate. The firm duration of the extension period is four years, with three additional one-year options. Total estimated value of the firm and optional periods is about $217.6 million.
ADES’s second award is with Saudi Aramco for a renewal of a contract for one of its jackups offshore Saudi Arabia that had previously been suspended. The firm renewal duration is for 10 years. The rig, formerly owned by Vantage Drilling, is currently operating offshore Thailand.
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Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
