ADES Holding announced that it has received a Letter of Award from PTTEP Energy Development Company Limited for an offshore jack-up drilling contract in the Gulf of Thailand with an estimated backlog of SAR 1.035 billion.
The award is for a five-year firm period plus an optional three-year extension, and will see the deployment of the Admarine 503, a sister rig to the Admarine 502, which began operations in Thailand during the third quarter of this year.