Saudi Aramco, ADES in Rig Contract Extension

Illustration; A jack-up drilling rig -Image by Lukasz Z / Adobe Stock
Illustration; A jack-up drilling rig -Image by Lukasz Z / Adobe Stock

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.



Read More:

Middle East: Offshore Drilling Spend Set to Soar

Current News

SLB Narrowly Beats Quarterly Profit Estimates

SLB Narrowly Beats Quarterly P

Vard Books Construction Order for CSOV Pair

Vard Books Construction Order

ABL to Deliver Grid Works for 600MW French Offshore Wind Farm

ABL to Deliver Grid Works for

Cadeler Adds Wind Keeper WTIV to Fleet, Locking in Long-Term Vestas Deal

Cadeler Adds Wind Keeper WTIV

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine