ADES International Holding awarded drilling contracts in Egypt

Eni and EGPC JV Belayim Petroleum Company (Petrobel) awarded ADES International Holding the contract for a three-month drilling campaign in an offshore concession in Egypt, Alliance News reports. Petrobel also agreed to renew ADES’ existing contract for an offshore jack-up drill rig for another six months, with the possibility of extending for another term. ADES also reached a farm-in agreement with Fanar Petroleum Company to perform hydraulic fracturing at its North July well in the Gulf of Suez to boost production levels, according to Offshore Magazine.