General Petroleum Company (GPC) awarded a new contract to ADES International Holding for its ADMARINE III offshore jack-up rig, Egypt Oil & Gas reports.
The contract is for two years and includes a two-year-extension clause.
“Our commitment to providing tailored solutions and superior services to our clients has enabled ADES to maintain long-term relationships with high-profile local and international energy companies, ensuring the continuity of our business during challenging climates,” the CEO of ADES, Mohamed Farouk, stated.
The contract, according to ADES, will not require significant capital expenditure.
GPC first contracted for the use of ADMARINE III in 2012, according to the company’s press release.
ADES International Holding provides offshore and onshore oil and gas drilling and production services in the Middle East and Africa through its subsidiaries. It recently agreed to form a joint venture with Vantage Drilling International for the purpose of deepwater drilling in Egypt.