ADES Holding Company (ADES: 2381) has secured a two-year
contract for its Compact Driller standard jackup rig with Brunei
Shell Petroleum, the company announced on November 27.
The contract, valued at approximately SAR236mn ($63mn), was
secured through ADES's wholly owned subsidiary Shelf Drilling. The
jackup will perform plug and abandonment operations offshore
Brunei.
The Compact Driller is expected to commence operations in the
fourth quarter of 2026 following contract preparation activities in
Singapore. The rig is currently on contract in India until May
2026.
'We are delighted to announce our first contract award following
the successful acquisition of Shelf Drilling, a milestone that
reinforces our strategic vision and solidifies our presence in
Southeast Asia,' Dr Mohamed Farouk, Chief Executive Officer of ADES
Holding, said in a statement.
The award reflects Shelf Drilling's track record in safety and
operational excellence, particularly its experience delivering plug
and abandonment services in the region, Farouk added.
ADES, headquartered in Al Khobar, operates the largest offshore
jackup fleet in the world with 81 offshore jackup rigs, one
offshore jackup barge and one mobile offshore production unit, in
addition to 40 onshore rigs. The company operates across 19
countries with more than 11,500 employees.
© 2025 bne IntelliNews, source Magazine
