ADES inks offshore drilling services contract in Thailand

22/04/2026 Argaam

ADES Holding Co. signed today, April 22, a contract with Valeura Energy, a subsidiary of Valeura Energy Inc, for the provision of offshore drilling services in Thailand.

 

The total contract value for the firm period only is nearly SAR 345 million ($92 million), excluding mobilization and demobilization, the company said in a statement to Tadawul.

 

ADES further stated that the contract award marks the beginning of its relationship with Valeura Energy and further reinforces the group’s strong position in Thailand, where it continues to maintain market leadership.

 

According to the statement, the contract term is three years, with a one-year unpriced optional extension.

 

Operations are expected to commence in Q4 2026 after ADES finishes its current campaign in the region. There are no related parties involved.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.