London-listed Middle Eastern drilling contractor ADES International Holding has extended the existing contracts for jackup rigs Admarine II and Admarine IV, while also renewing a contract for another jackup Admarine VI, all of which are operating in the Gulf of Suez.
The Admarine II (three months) and Admarine IV (six months) extensions serve as a prelude to finalising their renewals with The Gulf of Suez Petroleum Company.
The renewal of Admarine VI is for two years firm with Egypt’s General Petroleum Company.
Dr. Mohamed Farouk, chief executive officer of ADES International Holding, commented: “Our ability to successfully extend and renew existing contracts with high-profile clients underlines the superiority of ADES’ services and its exemplary safety record. Securing these new awards is directly in line with our growth strategy and allows us to deliver on one of our primary pillars, namely the continued build-up of our backlog.”