Fossil Energy – Thailand
ADES Holding, Saudi Arabia, announced that it has received a Letter of Award (LoA) from PTTEP Energy Development Company for an offshore jack-up drilling contract in the Gulf of Thailand.
The contract includes a five-year firm period with an optional three-year extension.
The contract involves the deployment of the Admarine 503, a sister rig to the Admarine 502, which commenced operations in Thailand during Q3 2024. This marks the fourth redeployment of previously suspended jack-up rigs from Saudi Arabia, highlighting ADES’ ability to address market demand and optimize its global platform for rapid rig mobilization.
With this LoA, ADES now operates five jack-up rigs in Southeast Asia, including two in Thailand, two in Indonesia, and one in the Malaysia-Thailand Joint Development Area (JDA).
