ADES rig duo picks up multimillion-dollar assignments offshore India
Two of ADES’ jack-up rigs have secured multi-year contracts with Oil and Natural Gas Corporation (ONGC).
ADES Holding Company, an oil and gas drilling services provider that is part of Saudi Arabia-headquartered ADES Group, has landed long-term rig deals worth roughly $117 million with ONGC, locking in firm commitments for two standard jack-up rigs to work off the coast of India.
ADES’ new rig assignments have a contract duration of a three-year firm period for each rig and the total contract value for the firm periods of both rigs, including mobilization fees, of approximately SAR 439.6 million (approximately $117.2 million).
These contract awards with Oil and Natural Gas Corporation will enable the offshore drilling player’s Key Singapore and Admarine 10 standard jack-up rigs to undertake drilling activities in India.
The UAE firm outlined: “These latest awards further strengthen ADES’ long-standing presence in India and reflect the group’s ability to maintain strong relationships with leading national oil companies while securing continued deployment for its fleet.
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