Drilling
ADES Holding has secured a one-year contract extension for the Shelf Drilling Tenacious jack-up rig off the coast of Angola, as well as a new drilling contract for the Shelf Drilling Perseverance in Indonesia.
Valued at approximately $52 million (SAR 195 million), the Angola extension was secured through the exercise of an existing option and will begin immediately after the rig’s current contract expires in the first quarter of 2027. ADES announced this on 27 October.
The Shelf Drilling Tenacious had previously secured a contract extension with Chevron’s subsidiary CABGOC in August 2025; the latest option exercise extends its drilling campaign offshore Angola by another year.
Built in 2007 and last upgraded in 2022, the Baker Marine Pacific 375 jack-up rig can operate in water depths of up to 114 metres and drill to depths of 9,144 metres.
The rig can accommodate 150 people.
