OIL & GAS-

#1- Ades extends jackup rig contract for SAR 816 mn: Tadawul-listed Ades Holding inked a SAR 816 mn, four-year contract extension with Qatari-based North Oil Company — a joint venture between QatarEnergy and TotalEnergies — to continue leasing the Sapphire Driller jackup rig, it said in a press release (pdf). The new contract introduced a better daily rate and includes an option for three additional one-year extensions.

ICYMI- Ades secured an extension in April for three of its offshore jackup rigs operating in Egypt — contracted from the General Petroleum Company (GPC). The total backlog value for the resumption is estimated at nearly SAR 673.5 mn (USD 179.6 mn).

#2- SPPC to add two gas delivery systems worth over SAR 830 mn: GAS Arabian Services Company secured contracts from the Saudi Power Procurement Company (SPPC) to install two separate sales gas delivery systems, according to separate disclosures to Tadawul. A SAR 326.3 mn plant will be installed at the Rumah Independent Power Plant (IPP) and a SAR 504.3 mn one will be established at the Nairiyah IPP.

REFRESHER- Nomu-listed GAS withdrew its request to transition to Tadawul’s main market inJanuary, citing the need to square away additional liquidity and regulatory requirements. The Dammam-based company had submitted its request to move up Tadawul’s big league back in September 2024.

AVIATION-

Riyadh Air has tapped US-based travel technology company Sabre as its first global distribution partner, according to a statement from Sabre last Tuesday. The partnership will enable Riyadh Air to provide personalized travel offers to travel agents, corporate buyers, and customers through Sabre’s New Distribution Capabilities (NDC) and traditional content.

Fast friends: Riyadh Air had also hired Sabre in February 2024 to provide its end-to-end solutions to the airliner’s network planning, commercial and analytics operations.

Our newest air carrier has also partnered with TPConnects Technologies to make the airline’s NDC content and servicing functions available on TPConnects’ Iris aggregator platform, according to a statement from TPConnects last Tuesday.

REMEMBER- Riyadh Air is set to kick off its operations next year and has a target of operating flights between 100 destinations by 2030.

MINING-

Amak secures three exploration licenses: Al Masane Al Kobra Mining Company (Amak) received three exploration licenses — following a successful bidding process in January — granting it base and precious metals exploration rights in Jabal Ad Dimah, Jabal Al Klah North, and Jabal Al Klah South until 2030, according to a disclosure to Tadawul.

The details: Amak’s licensed area will encompass over 300 sq km across the Makkah and Riyadh regions, containing potential silver, zinc, gold, lead, and silver ore reserves. The Riyadh region is close to Amak’s existing Radeniah East exploration concession.

DEBT WATCH-

Shalfa Facilities Management secured the renewal of a SAR 250 mn Sharia-compliant credit facility from Aljazira Bank, it said in a filing to the exchange. The facility — valid until April 2026 — will be used to finance the company’s ongoing and upcoming projects.

REMEMBER- The Nomu-listed facility service provider lined up one-year SAR 75 mn credit facilities from the Saudi Investment Bank in March, to back project guarantees, site preparation, and working capital needs.

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