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ADES Renews Contract for ADMARINE 262 in KSA ADES Renews Contract for ADMARINE 262 in KSA

Source: www.gulfoilandgas.com 1/7/2020, Location: Middle East

ADES International Holding PLC, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has secured a contract renewal for ADMARINE 262.

ADMARINE 262 renewal has a five-year tenor, which will be effective upon the expiry of the current contract in April 2020, and will have a higher daily rate.

Commenting on the contract award, Dr. Mohamed Farouk, Chief Executive Officer of ADES International Holding, said:

"We are delighted to secure this renewal for ADMARINE 262 with our extremely valued and important client. It further supports our presence in KSA and underpins ADES's track record for securing renewals for our fleet which results in greater backlog visibility."

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