ADES signs 10-year renewal for previously suspended jackups

“We are very pleased to have secured this renewal for our unit in KSA, particularly as it was among the six previously suspended rigs in the kingdom," said Mohamed Farouk, CEO of ADES Holding.

“This 10-year renewal, and similar ones recently secured in the kingdom, added a significant amount of long-term backlog to the group, promoting business sustainability and increased revenue visibility.