ADES lands six-month jack-up rig deal in Egypt’s Gulf of Suez
Oil and gas drilling rig contractor ADES has secured a new contract for the Admarine 5 jack-up drilling rig in the Gulf of Suez, Egypt. “The contract, secured with a top-tier client, covers a firm six-month period with the option to extend for an additional six months, further strengthening ADES’s position and revenue visibility in […]
Middle East drilling contractor ADES confident despite current crisis
Drilling contractor ADES International is confident of maintaining its current operations and existing business in the Middle East North Africa region, despite the COVID-19 pandemic and market volatility caused by the current oil price. Drilling contractor ADES International is confident of maintaining its current operations and existing business in the Middle East North Africa (MENA) […]
ADES secures contract renewal for Admarine 262 jack-up rig in KSA
ADES International, an oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has secured a contract renewal for the Admarine 262 jack-up rig in Saudi Arabia. ADES said in a statement on Tuesday that the Admarine 262 renewal had a five-year tenor, which would be effective upon the […]
Baker Hughes awards ADES deep drilling contracts in Kuwait
Baker Hughes Co. has awarded ADES International Holding PLC a pair of deep drilling contracts under a lump sum turnkey project (LSTK) project in Kuwait, ADES reported Monday. “We are extremely pleased to secure our first onshore deep drilling LSTK contract with Baker Hughes,” Mohamed Farouk, CEO of ADES commented. The contracts apply to ADES […]
ADVantage to drill deepwater Nigma prospect offshore Egypt
ADES International Holding has won an order to drill its second deepwater well in the Egyptian sector of the Mediterranean Sea. ADVantage, the joint venture between ADES and Vantage Drilling International, will drill the Nigma-1 well for an unnamed IOC, using the drillship Tungsten Explorer. The program is set to last 73 days. The contract […]
ADES International wins its second deepwater drilling contract in Egypt
ADES International Holding has secured a deep-water drilling contract in the Egyptian Mediterranean area. ADES confirmed the contract award on Friday with an unnamed “top tier international oil company”. Award to be sub-contracted out to company’s joint venture with Vantage Drilling. The company said it would provide the work via Vantage Drilling’s Tungsten Explorer. The […]
ADES International awarded new offshore drilling rig contract in Egypt
ADES International, an oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has been awarded a new two-year contract for its Admarine IV offshore jack-up rig in Egypt. According to ADES’ statement on Monday, the Admarine IV contract was awarded by a “leading Egyptian energy company” through tendering. […]
ADES International achieves strong Q1-2019 operational growth
ADES International, oil and gas drilling and production company, said it saw a strong operational performance in the first quarter as the company won new contracts and rig utilisation rose. The company said revenue in the quarter ending March 31 reached US$108.7 million, up from $41.2 million in the year ago period. Its profit margins […]
ADES, Vantage JV to drill deepwater well for Dana Gas in Egypt
ADES International Holding has entered a short-term exploration contract with Dana Gas for deepwater drilling services in the Egyptian sector of the Mediterranean Sea. Vantage’s Tungsten Explorer drillship will drill one firm well under the contract, with an option to drill a further three wells. The initial program is set to take 77 days to […]
ADES acquires 12 onshore drilling rigs from Weatherford in Kuwait
ADES International Holding Ltd. has completed the acquisition of twelve onshore rigs from Weatherford International Plc in Kuwait, the company said on Nov. 2. The transaction forms part of the previously signed definitive agreement with a subsidiary of Weatherford to acquire thirty-one onshore drilling rigs for a total consideration of $287.5 million across Kuwait, Saudi […]
