ADES Holding Company, through its wholly-owned subsidiary Shelf Drilling, has secured a new two-year contract for the standard jackup rig Compact Driller with Brunei Shell Petroleum (BSP). The estimated value of the contract is approximately SAR236 million ($63 million).
The jackup rig will be deployed to perform plug and abandonment (P&A) operations offshore Brunei. Operations are expected to commence in the fourth quarter of 2026.
The Compact Driller is currently on contract in India until May 2026 and will undergo contract preparation activities in Singapore prior to the commencement of the new campaign.
This award marks the first contract secured following ADES's acquisition of Shelf Drilling. ADES operates a fleet of 81 offshore jack-up rigs, one offshore jack-up barge, and one mobile offshore production unit (MOPU); in addition to 40 onshore rigs.
Dr. Mohamed Farouk, CEO of ADES Holding, stated, “We are delighted to announce our first contract award following the successful acquisition of Shelf Drilling, a milestone that reinforces our strategic vision and solidifies our presence in Southeast Asia.”
