01MAR2019 - NEWS - ADES International Holding PLC secures two onshore drilling contracts in the Kingdom of Saudi Arabia

ADES International Holding PLC, an oil & gas drilling and production services provider in the Middle East and North Africa, has recently announced that it has secured two onshore drilling contracts in the Kingdom of Saudi Arabia, following a competitive tender process. Each of the secured contracts has a tenure of seven years (five years fixed and two years optional) that will add a total estimated backlog of $ 150 million. Operations are due to commence in second half of 2019. The group will order two new-build onshore rigs that meet the contract specifications for a total cost of up to $ 45 million. ADES sees long-term potential for these assets in the Saudi market.

Published by Editor - www.Livebunkers.com at 01-Mar-2019 05:27:34 [UTC] , contact editor at editor@livebunkers.com