Saudi Arabia’s ADES has signed a multi-year contract extension with QatarEnergy for its jackup rig Aquamarine Driller, marking its second long-term award in Qatar this year.
The deal secures the rig for a firm period of four years, with three additional one-year options. If fully exercised, the contract would run to 2032.
Are you Paying High Taxes in New Jersey, New York, or California?
The extension takes immediate effect and is valued at about SAR808m ($215m), including the options. It follows the May 2025 extension of the Sapphire Driller and strengthens ADES’ position in Qatar, a key Middle East market for the company.
The 2009-built Aquamarine Driller was acquired from Houston-based Vantage Drilling in 2021 as part of a three-rig package deal.
ADES is currently in the process of merging with Dubai-based Shelf Drilling in a $380m transaction that will create a fleet of 83 jackups with a combined backlog of around $10bn.
Avoid Paying Taxes in 2025
Crude Oil, LNG, Jet Fuel price quote
ENB Top News
ENB
Energy Dashboard
ENB Podcast
ENB Substack
