(Alliance News) - Dubai-based ADES International Holding PLC on Monday said it has extended the contract for Admarine 261 jack-up rig in Saudi Arabia.
The oil & gas drilling services provider said the contract was extended for one-year tenor, which will be effective upon the expiry of the current contract in February 2020, with the same daily rates.
ADES neither disclosed any further details of the contract, nor named the client.
Earlier in January, ADES secured a contract renewal for the Admarine 262 jack-up rig, also in Saudi Arabia.
The stock was untraded in London on Monday, last closing at USD12.20 a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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