ADES Holding Company Receives Notification of Extension for Three Offshore Jackups in Egypt
| Element List | Explanation |
|---|---|
| Date of the Award | 2025-04-08 Corresponding to 1446-10-10 |
| Counterparty | General Petroleum Company (GPC) |
| Contract Value | The total estimated backlog value of the extensions is SAR 673.5 million (USD 179.6 million) |
| Contract Details | ADES Holding co. announce that it has received notifications of extension for three of its offshore jackup rigs operating in Egypt. The extensions cover three contracted rigs with the General Petroleum Company (GPC): Admarine III and Admarine VI, which have been extended for a firm one-year period with an optional one-year extension expected to commence over the course of 2025 and 2026 upon expiry of their current contracts; and Admarine V, which has been extended for a firm three-year period with an optional one-year extension and is effective immediately. |
| Related Parties | N/A |
| Attached Documents |  |
