ADES Expands Global Presence by Securing Lucrative Contracts in Indonesia and Qatar

ADES Expands Global Presence by Securing Lucrative Contracts in Indonesia and Qatar :

16, 2024, Al Khobar, Saudi Arabia: Through a number of noteworthy contract acquisitions, ADES Holding Company, a preeminent worldwide supplier of oil and gas drilling services, has strengthened its position in the energy industry. The business recently declared that it had secured two significant contracts, demonstrating its dedication to growth and top-notch service delivery.

Contract in Qatar:

ADES has secured a significant contract worth roughly $93.3 million with TotalEnergies, a major French energy company, in Qatar. The contract calls for the use of a jack-up rig and has a fixed one-year duration with three separate, six-month options. With intentions to move one of its jack-up rigs to Indonesia later in 2024, this development represents a calculated move by ADES to hold onto its market share in Qatar.

ADES Holding’s CEO, Dr. Mohamed Farouk, expressed his company’s happiness with the contract and highlighted how quickly it secured new campaigns for rigs that had been suspended in Saudi Arabia. “New capacities made available have allowed us to quickly find a technically suitable unit to maintain our three-rig presence in Qatar,” he said, underscoring the significance of responding to market dynamics.

Expansion into Indonesia:

ADES announced its entry into the Indonesian market in addition to its contract with Qatar, which represents a major step forward in the company’s global expansion strategy. ADES signed three contracts worth $293 million in November 2023, one of which was a long-term arrangement with Pertamina Drilling Services Indonesia. As part of this partnership, Pertamina’s current jack-up drilling rig, Emerald Driller, in the Java Sea will be managed. The agreement is for a fixed term of three years plus an option for two more years, starting in the second half of 2024.

These developments demonstrate ADES’s dedication to expanding its geographic reach and seizing new opportunities in important energy-related markets. With operations currently taking place in eight nations, ADES is solidifying its standing as a major force in the drilling services market worldwide.

Operational Excellence and Safety:

ADES takes great satisfaction in delivering exceptional operational excellence and upholding the highest safety standards throughout all of its business operations. Dr Farouk emphasised ADES’s dedication to excellence by highlighting the Emerald Driller’s exceptional safety and operational performance during its time in the Al-Khaleej field.

Company Overview:

With its headquarters located in Al Khobar, Saudi Arabia, ADES Holding Company employs more than 8,000 people and has a fleet of 87 rigs that are used in nine different countries. 38 onshore drilling rigs, 46 offshore jack-up drilling rigs, two jack-up barges, and one mobile offshore production unit (MOPU) are among the company’s varied portfolio. Two decades ago, ADES was a modest single-string operation. Its resilient business model and cost-effective structure have propelled its journey to become a global leader in offshore drilling services.

Conclusion:

ADES has demonstrated its dedication to innovation, expansion, and superior service delivery with its recent contract acquisitions in Indonesia and Qatar. ADES is positioned to take advantage of new opportunities in the ever-changing global energy landscape by prioritising operational excellence and safety. This will further solidify ADES’s reputation as a reliable partner in the oil and gas sector.