ADES International has signed a new lease for its offshore jack-up rig Admarine IV for a period of two years. The rig is hired by a “leading Egyptian operator” chosen through tendering. The name of the hiring company is not stated.

ADES International - Offshore jack up rigs for oil production

Admarine IV has been carrying out operations for GUPCO from January 2014 to July 2019. Dr. Mohamed Farouk, Chief Executive Officer of ADES International Holding, is very enthusiastic about the new lease as it supports the company’s current business model aimed at providing tailored solutions on highly competitive market.

Read also: Petrobel to Deploy Shelf Drilling’s Jack-up Rig in Egypt
ADES International also extended earlier signed lease for its new onshore unit RIG 828 in Algeria until June 2020.

Meet the representatives of ADES International and listen to their report about cost efficiency in offshore drilling operations at the Exploration and Production Offshore Congress Hub 2019 in Thessaloniki, Greece on September 16-17.

Source: OffshoreEnergyToday.com

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