Offshore staff
AL--KHOBAR, Saudi Arabia — ADES Holding has a letter of intent from PTTEP for a firm 18-month jackup drilling contract in the Gulf of Thailand, with options for a nine-month extension.
Operations are set to start in the second half of 2024, with an estimated value of about SAR 354 million ($94.3 million), including mobilization.
ADES plans to deploy of one of its five rigs impacted by Saudi Aramco’s decision to temporarily suspend operations involving various contracted jackups offshore Saudi Arabia. It is also on the point of allocating a second rig elsewhere in the region.
Valaris also announced that ARO Drilling, its joint venture in Saudi Arabia, had received a notice of suspension from Aramco concerning the jackup VALARIS 143 (EXL I).
The rig’s contract had been scheduled to end in December 2024. The suspension notice is for a period of up to 12 months, and ARO is in talks with Aramco to determine the effective date of the suspension.
At the same time, ARO will have the right to terminate the drilling contract. Valaris leases VALARIS 143 (EXL I) to ARO under a bareboat charter agreement.
Aramco has issued a further a notice of temporary suspension of operations for Borr Drilling’s jackup Arabia I, again for up to 12 months. Borr plans to seek alternative work for the rig during the suspension.
04.05.2024
