Fossil Energy – Drilling
ADES has signed a four-year contract extension for 375-ft jackup Sapphire Driller with North Oil Company offshore Qatar.
The confirmed term of the extension is four years with three one-year options also available. ADES put the total value of the firm and optional periods at around SAR 816 million (USD 217.6 million) and stated that the contract was at a better dayrate than its previous term.
Sapphire Driller worked for North Oil Company offshore Qatar since Q1 2022. The 2009-built rig was acquired by ADES from Vantage Drilling in 2021.
