Logo ofADES Holding Co.
ADES Holding Co. signed, on Oct. 10, contract extensions for two onshore rigs operating in Saudi Arabia, for SAR 946 million. 
In a statement to Tadawul, the company it renewed contracts with Saudi Aramco for rigs ADES 13 and ADES 14 for additional 10 years.
For more news and details on the projects
Extension will commence immediately upon expiry of the rigs’ current tenor.
No related parties are included in the deal, the statement added.
The relatively long-term contract renewals add significant revenue visibility and backlog sustainability to the group, the company stated.
Logo ofADES Holding Co.
ADES Holding Co. signed, on Oct. 10, contract extensions for two onshore rigs operating in Saudi Arabia, for SAR 946 million.
In a statement to Tadawul, the company it renewed contracts with Saudi Aramco for rigs ADES 13 and ADES 14 for additional 10 years.
For more news and details on the projects
Extension will commence immediately upon expiry of the rigs’ current tenor.
No related parties are included in the deal, the statement added.
The relatively long-term contract renewals add significant revenue visibility and backlog sustainability to the group, the company stated.
