ADES Secures 10-Year Contract Renewals for Two Onshore Rigs Operating in KSA
Element List
Explanation
Date of Announcement of the Award
2024-10-13 Corresponding to 1446-04-10
Contract Subject Matter
Contract Extension for Onshore Drilling Services
The Entity with Which the Contract was Signed
Saudi Aramco
Date of Signing the Contract
2024-10-10 Corresponding to 1446-04-07
Contract Value
Approximately SAR 946 million
Contract Details
10-years contract extension with Aramco in Saudi Arabia for two onshore rigs ADES 13 and ADES 14.
Contract Duration
10-years contract extension.
Financial Impact and the Relevant Period
Extension to commence immediately upon expiry of the rigs’ current firm tenor.
Related Parties
N/A
Attached Documents
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