Saudi Arabia’s ADES wins $46m Indonesia contract for Shelf Drilling Perseverance rig
- The contract duration is 406 days, with an optional 30-day extension, including mobilization fees.
- ADES reported a 49% increase in first-half revenue, bolstered by the acquisition of Shelf Drilling, and has a backlog of SR34.67 billion.
- Operations under the new contract are anticipated to commence by the end of December 2026 after the rig completes its current campaign.
