Key points about ADES Holding securing a jackup rig contract in Qatar
- ADES Holding, a Saudi offshore and onshore drilling services provider, has won a 350 million-riyal (around $93.3 million) contract to operate a jackup rig in Qatar.
- The contract was awarded by French energy giant TotalEnergies, one of the major international oil companies (IOCs) operating in Qatar.
- This contract will help ADES maintain its market share in Qatar, where it already operates two other rigs.
- The contract duration is not specified in the search results, but it is likely a multi-year agreement given the significant value of the contract.1
- ADES Holding is a leading drilling services provider in the Middle East and North Africa region, with a focus on offshore and onshore operations.
- This contract win demonstrates ADES’ strong capabilities and competitiveness in the regional drilling services market.
Duration of the contract
The contract comprises a firm one-year term plus three optional six-month extensions. So the initial contract duration is one year, with the possibility of three additional six-month extensions, for a total potential duration of up to two years.
Previous experience of ADES
ADES Holding has significant previous experience in the onshore and offshore drilling services market in the Middle East and North Africa region, having secured contracts in countries like Algeria, Kuwait, Saudi Arabia, and Iraq. The acquisition of Weatherford’s drilling assets further expanded ADES’ capabilities and presence in the region.
Know about ADES
- ADES Holding is a Saudi offshore and onshore drilling services provider, headquartered in Saudi Arabia.
- The company was established in 2002 through its first subsidiary, ADES Egypt.
- ADES Holding operates through its branches and subsidiaries in various countries, including Saudi Arabia, Kuwait, UAE, Egypt, Cayman Islands, Bermuda, Cyprus, Liberia, Qatar, Tunisia, Algeria, Libya, Indonesia, and Congo.
- The company directly and wholly owns one subsidiary, ADES International Holding Ltd., which is a holding company based in the UAE.
TotalEnergies’ Extensive Footprint and Contributions in Qatar
- Established Presence: TotalEnergies has been operating in Qatar since 1936, participating in all facets of the nation’s oil and gas industry.
- Diverse Operations: Its activities in Qatar encompass exploration, production, refining, petrochemicals, lubricants marketing, and renewable energies.
- Key Projects and Partnerships:
- TotalEnergies operates as the sole operator of the Al Khalij offshore oilfield and holds a significant interest in the Al Shaheen offshore oilfield.
- It is a founding partner of QatarEnergy LNG and Dolphin Energy, with notable involvement in the NFE and NFS LNG expansion projects.
- TotalEnergies also contributes to Qatar’s renewable energy sector through projects like the Al Kharsaah Solar PV IPP Project.
- Downstream Activities: TotalEnergies Marketing Qatar holds a prominent market share for lubricants in Qatar, serving major automotive, construction, industrial, and marine customers. It provides a range of premium lubricants and services and maintains partnerships with automotive dealers to ensure product accessibility.
- Sustainability and Community Initiatives:
- TotalEnergies is committed to safe and environmentally conscious operations in Qatar.
- It leads initiatives in education, culture, sports, health, climate, and biodiversity, including road safety awareness campaigns in partnership with the Qatar Traffic Department.
