ADES wins Egypt and Algeria rig contracts

摘要

ADES INTERNATIONAL HOLDING has been awarded a two-year contract for its ADMARINEIV offshore jack-up rig in Egypt,and signed a one-year contract extension for its onshore rig RIG 828 in Algeria.The ADMARINE IV contract was awarded by a major Egyptian energy company through tendering and has a term of an initial one-year engagement,with an option to extend for another year at the same rates.In Algeria,the existing contract of RIG 828,whch was acquired from Weatherford earlier this year,was extended for a one-year engagement under the same terms and will run through until June 2020.