Drilling contractor ADES has won a contract extension for its ADMARINE 261 jack-up rig in Saudi Arabia.
ADES said Monday that the contract extension was for a tenure of one year.
The contract is expected to start upon the expiry of the current contract in February 2020. ADES said that the day rate would remain unchanged. The MENA-focused drilling contractor, which owns 13 jack-up drilling rigs, did not say what the day rate was.
According to Bassoe Analytics, the rig has been operating in Saudi Arabia under a contract with Saudi Aramco since June 2015.
The ADMARINE 261 extension comes less than two weeks after ADES had secured the extension for the ADMARINE 262 jack-up rig.
Unlike the ADMARINE 261 one-year extension, the ADMARINE 262 has secured a 5-year term, on a higher day rate, estimated to be around $75,000.
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