"We are delighted to secure this renewal for ADMARINE 262 with our extremely valued and important client,” said Dr Mohamed Farouk.
Oil and gas contractor () has announced a notable new contract renewal, securing the ADMARINE 262 rig with an important client in the Middle East.
ADES, in a statement, noted that the new deal is set with a higher daily rate and the renewal would be for five years starting after April following on from the expiry of the current contract.
"We are delighted to secure this renewal for ADMARINE 262 with our extremely valued and important client,” said Dr Mohamed Farouk, ADES chief executive.
“It further supports our presence in KSA and underpins ADES's track record for securing renewals for our fleet which results in greater backlog visibility."
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