ADES Secures New Contract For “Compact Driller” Standard Jackup in Brunei
| Element List | Explanation |
|---|---|
| Date of Announcement of the Award | 2025-11-17 Corresponding to 1447-05-26 |
| Contract Subject Matter | Contract For Offshore Drilling Services |
| The Entity with Which the Contract was Signed | Brunei Shell Petroleum Sdn. Bhd (“BSP”) |
| Date of Signing the Contract | 2025-11-17 Corresponding to 1447-05-26 |
| Contract Value | The contract value is estimated at approximately SAR 236 million (USD 63 million). |
| Contract Details | ADES Holding Company is pleased to announce that it has secured through its wholly owned subsidiary Shelf Drilling a new contract for the Compact Driller standard jackup with Brunei Shell Petroleum Sdn. Bhd (“BSP”). The contract has a term of two years. The jackup will be deployed to perform plug and abandonment (“P&A”) operations at offshore Brunei. The estimated contract value is approximately SAR 236 million (USD 63 million). The Compact Driller is expected to commence operations in Brunei during the fourth quarter of 2026 and will undergo contract preparation activities in Singapore ahead of the commencement. The rig is currently on contract in India until May 2026. |
| Contract Duration | The contract has a term of two years. |
| Financial Impact and the Relevant Period | Commencement of the contract is expected in the fourth quarter of 2026. |
| Related Parties | N/A |
| Attached Documents |  |
