ADES Holding has secured a new offshore drilling contract in Indonesia, deploying its Shelf Drilling Perseverance jack-up rig under a deal worth approximately SAR 173.14 million (about USD 46.2 million).
The agreement was signed with Indonesian operator PT Pertamina Hulu Mahakam. It carries a firm term of 406 days, with an optional 30-day extension that could be added later.
the total value covers rig mobilization, demobilization, and start-up fees. Operations are expected to begin near the end of December 2026, once the rig completes its current campaign in the region.
Why it matters
The contract marks another international expansion step for a Saudi-rooted energy services company, reflecting the growing footprint of local firms in offshore markets abroad. For residents following the Kingdom's energy sector, such deals highlight how Saudi companies are competing for projects across Asia and beyond.
It is worth noting that this is an offshore drilling contract in Indonesian waters. It does not introduce any new Saudi government fee, permit, visa, or service requirement, and has no direct impact on residents or businesses inside the Kingdom.
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