ADES Lands $117M ONGC Drilling Contracts for Two Jack-Ups

ADES Holding has secured three-year contracts from India's Oil and Natural Gas Corporation Limited (ONGC) for two jack-up drilling rigs, with a combined firm contract value of approximately $117.2 million (SAR 439.6 million).

The awards cover the standard jack-up rigs Key Singapore and Admarine 10, each contracted for a three-year firm period.

Operations under the new contracts are expected to begin by the end of the first quarter of 2027, following the completion of the rigs' existing drilling campaigns by the end of the fourth quarter of 2026.

The awards strengthen ADES' contracted drilling activity in India and provide further visibility over its international contract backlog.

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