ADES scores new jackup contract in Egypt

Egyptian offshore driller ADES International has sealed a new contract for 1981-built jackup rig Admarine 5 in the Gulf of Suez.

The contract is for six months firm, with the option to extend for an additional six months.

ADES says the contract further strengthens its position and revenue visibility in Egypt.

The Dubai-headquartered company has a fleet of 13 offshore jackup rigs, a jackup barge, and a mobile offshore production unit.