ADES extends three major rig contracts in the Gulf of Suez

LSE-listed ADES International Holding announced successfully extending rig contracts in the Gulf of Suez area. ADES extended two existing contracts for Admarine II, Admarine IV and renewed its lease for Admarine VI. BP’s joint venture GUPCO extended its existing contract for ADES' Admarine II jack-up barge and jack-up rig Admarine IV. ADES also renewed its existing contract for its Admarine VI jack-up rig with the General Petroleum Company.