ADES Holding acquires two jack-up drilling rigs from Vantage Drilling for $190 million and expands operations in Southeast Asia.

Saudi oil and gas company ADES Holding has purchased two jack-up drilling rigs from Vantage Drilling for $190 million, aiming to expand operations in Southeast Asia, particularly in the Malaysia-Thailand Joint Development Area. This acquisition increases ADES' fleet to seven rigs across Indonesia, Thailand, and India. The deal includes a three-year management agreement, enhancing both companies' operational capabilities and financial positions.

September 09, 2024
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