Saudi Arabia’s Ades secures $136.2m deals in Qatar, Egypt
- Date: 06-May-2024
- Source: Arab News
- Sector:Oil & Gas
- Country:Saudi Arabia
Saudi Arabia’s Ades secures $136.2m deals in Qatar, Egypt
RIYADH: Saudi Arabia’s Ades Holding Co. continues to expand its regional footprint as it seals two contracts worth SR511 million ($136.2 million), highlighting its growing influence in the oil and gas sector.
Ades, which specializes in providing drilling and intervention services, signed a contract valued at up to SR350 million with Total Energies to operate an offshore drilling platform in Qatar.
The agreement includes a mandatory one-year period with an option to extend it for up to an additional 18 months, according to a bourse filing. Saudi Arabia’s Ades secures $136.2m deals in Qatar, Egypt