ADES Holding Company inked a SAR 350 million contract for offshore drilling services with TotalEnergies, according to a bourse disclosure.

The two parties signed the deal on 5 May for one year and 18 months for a jack-up rig in Qatar.

Meanwhile, the operations are expected to commence in the second half (H2) of 2024.

ADES Holding recently announced a SAR 161 million project contract with Egypt-based Suez Oil Company (SUCO) to use a standard jack-up unit from the Saudi company’s fleet.

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