Saudi oil and gas driller ADES announced that it has renewed its contract for one of its offshore jack-up drilling rigs with Saudi Aramco.
ADES did not disclose which rig was renewed, but said it was one of the temporarily suspended rigs previously operating in Saudi Arabia. The renewed contract, which has a fixed term of 10 years, brings the total backlog of renewals to $430 million.
According to ADES, the rig is currently under contract in Thailand and the exact start date of the contract with Aramco will be confirmed at a later date.
Although the rig was not revealed, it is likely to be Admarine 502. Aramco’s two suspended ADES rigs were previously contracted in Thailand. However, only Admarine 502 is currently under construction in Thailand under an 18-month contract with PTTEP, which also includes a 9-month extension option.
The second rig to be awarded work in Thailand was Admarine 503, which was awarded a five-year contract with a three-year extension option. Under the agreement, the platform will only start traveling to Thailand for work in the second half of 2025.
ADES currently has more than 8,000 employees and 91 drilling rigs in 11 countries/regions, including 40 onshore drilling rigs, 48 offshore jack-up drilling rigs, two jack-up barges and one mobile offshore production unit (MOPU).