Saudi-Listed ADES Bags $93Mln Offshore Drilling Contract in Qatar

Saudi-listed ADES Holding Company has signed a 350 million Saudi riyal offshore drilling services contract with France’s TotalEnergies in Qatar. Last month, ADES announced a mutual agreement with a client in Saudi Arabia to temporarily suspend operations on five of its 33 offshore jack-up rigs for up to 12 months. This move aims to enhance political ties between Qatar and Saudi Arabia while maintaining robust energy output through offshore drilling.