ADES International awarded contracts in Egypt, Algeria

6/24/2019

LONDON and DUBAI -- ADES International Holding Plc, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA) through its subsidiaries, has announced that it has been awarded a new two-year contract for its ADMARINE IV offshore jackup rig in Egypt and has signed a one-year contract extension for its onshore rig RIG 828 in Algeria.

The ADMARINE IV contract was awarded by a leading Egyptian energy company through tendering and has a term of an initial one-year engagement, with an option to extend for another year at the same rates.

In Algeria, the existing contract of RIG 828 (recently acquired from Weatherford) was extended for a one-year engagement under the same terms and will run through June 2020.

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