ADES Holding Company (ADES), Saudi Arabia announce the signing of a multi-year contract extension for its jackup rig, Sapphire Driller, with a major operator in Qatar.
The total contract backlog covering both the firm and optional periods is estimated at approximately SAR 816 million (USD 217.6 million), which was secured at a better daily rate.
The extension is for a firm duration of four years, with three additional one-year options (Up to three years extension).
The company stated that, this multi-year extension in Qatar — a strategic market in the Middle East — reflects the continued confidence of ADES’ clients and underscores the Group’s track record of operational excellence. The contract adds significant revenue visibility and strengthens backlog sustainability, further supporting ADES’ long-term growth trajectory in the region.
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