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Tag: Jackup Rig
Jackup Rig

ADES secures contract renewal for Admarine 262 jack-up rig in KSA

Posted: January 8, 2020 at 1:16 pm   /   Oil & Gas

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 […]

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KS

KS Drilling lands $2.5 million contract in Egypt for KS Medstar-1 jack-up rig

Posted: June 30, 2019 at 1:44 am   /   Oil & Gas

Singapore-listed drilling company KS Drilling has managed to find work for its KS Medstar-1 offshore drilling rig in Egypt. The jack-up drilling rig, built in 1980 and upgraded in 2011, will begin work in the third quarter of 2019, an will earn $2.5 million in total. KS Drilling did not say who the client was. […]

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ADES

ADES International awarded new offshore drilling rig contract in Egypt

Posted: June 24, 2019 at 1:01 pm   /   Oil & Gas

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. […]

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shelf drilling

Petrobel awards Shelf Drilling’s jack-up contract for operations in Egypt

Posted: January 29, 2019 at 9:35 pm   /   Oil & Gas

Offshore drilling contractor Shelf Drilling has received a contract award for one of its jack-up rigs with Belayim Petroleum Company (Petrobel) for operations in the Gulf of Suez, offshore Egypt. Shelf Drilling said on Monday that the Trident 16 jack-up drilling rig had been awarded a one-year contract. The contract includes mutually agreeable options, and […]

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Nabors

ADES concludes deal with Nabors for three jackup rigs

Posted: June 17, 2018 at 3:13 pm   /   Oil & Gas

ADES International has completed its acquisition of three jackup rigs operating offshore the Middle East from Nabors Industries. Total purchase price was $83 million. The rigs have been renamed Admarine 655, Admarine 656, and Admarine 657. The Admarine 655 is undergoing an ABS recertification process in a shipyard, while the other two jackups are ready […]

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ADES

ADES secures new $140m credit facility to pay for three Nabors rigs

Posted: May 25, 2018 at 2:25 pm   /   Oil & Gas

ADES International, a London-listed provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa, has secured a new loan from a Saudi bank to finance the acquisition of three jack-ups from Nabors and other potential deals. ADES said on Thursday that a SAR 525 million ($140 million) […]

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Rowan sells stacked Gorilla IV jack-up rig to ADES in Egypt

Posted: March 11, 2018 at 8:10 pm   /   Oil & Gas

Offshore driller Rowan Companies has reportedly sold one if its jack-up drilling rigs to Advanced Energy Systems (ADES) in Egypt. According to information provided by VesselsValue, a website providing intel on offshore and shipping world, Rowan sold its previously cold stacked jack-up drilling rig Rowan Gorilla IV for an undisclosed price on Tuesday, March 6. […]

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ADES wins 3 jackup contract extensions in the Gulf of Suez

Posted: January 13, 2018 at 7:07 pm   /   Oil & Gas

ADES scores jack-up hat-trick in Gulf of Suez offshore Egypt. London-listed drilling contractor ADES has secured extensions for two existing contracts for jack-ups Admarine II and Admarine IV and renewed its lease for Admarine VI jack-up, all of which are in the Gulf of Suez area. The extension of the Admarine II and Admarine IV contracts […]

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ADES in talks to acquire up to five jack-up rigs from Nabors

Posted: December 21, 2017 at 2:16 pm   /   Oil & Gas

ADES International Holding has agreed to acquire three jackups from Nabors Drilling International II that are currently operating offshore the Arabian Peninsula for a major national oil company. The transaction is valued at $83 million, payable in a combination of cash and ADES shares. Terms also allow for the existing drilling contracts associated with the […]

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ADES secures two-year jackup rig drilling contract from GPC in Egypt

Posted: November 17, 2017 at 6:33 pm   /   Oil & Gas

Egypt’s General Petroleum Co. (GPC) has contracted ADES International Holding’s jackup ADMARINE III for a two-year program. The contract carries an option for a further two-year extension. ADES does not foresee the need for significant additional investments in the rig prior to the deployment. CEO Dr. Mohamed Farouk said: “ADMARINE III’s original contract with GPC […]

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