November 9, 2026: Saudi-listed ADES Holding Company has won contracts from India’s Oil and Natural Gas Corporation (ONGC) for two standard jackup drilling rigs, Key Singapore and Admarine 10.
The combined value for the firm periods of both rigs, including mobilisation fees, is about SAR 439.6 million ($117.2 million). Each rig has a three-year firm term. Operations are expected to start by the end of the first quarter of 2027.
Both rigs will provide offshore drilling services for ONGC. A jackup is a mobile rig whose legs are lowered to the seabed so the drilling platform can stand above the water. These rigs are widely used in shallow offshore fields.
Both units will finish their current campaigns by the end of Q4 2026 and then start work for ONGC. ADES did not give the separate value of each rig’s contract or any option periods.
Dr. Mohamed Farouk, CEO of ADES Holding, said: “These awards reflect the strength of our partnership, our proven operating track record in the country, and the continued confidence of our clients in ADES’ ability to deliver safe, reliable and efficient drilling services.”
(Source: Gulf projects)
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