Saudi oil and gas drilling contractor ADES Holding has signed a multi-year contract extension for its jack-up rig Aquamarine Driller with QatarEnergy.
The estimated value of the contracts is $215 million, including the firm and optional extensions.
The extension is for a firm duration of four years, with three additional one-year options, totaling up to three years extension.
The contract awards follow the May 2025 extension of Sapphire Driller jack-up and marks the second long‑term award secured in Qatar this year.
“This multi‑year award in Qatar is in line with the Company’s strategy of securing long term relationships in strategic markets in the Middle East, and highlights the continued trust of its client thanks to ADES’ outstanding safety performance and operational excellence,” ADES said.