{"id":82284,"date":"2023-11-22T00:00:00","date_gmt":"2023-11-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/"},"modified":"2023-11-22T00:00:00","modified_gmt":"2023-11-22T00:00:00","slug":"ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/","title":{"rendered":"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn"},"content":{"rendered":"

Oil driller Ades lands contracts in Indonesia, Algeria: <\/strong>Fresh off its hot IPO, Tadawul-listed oil and gas drilling company Ades Holding<\/a> has inked three contracts worth combined SAR 1 bn (USD 293 mn) in Indonesia<\/a> and Algeria<\/a>, it said in a regulatory filing (pdf)<\/a> yesterday. <\/p>\n

Southeast Asia is new for the Egypt-born company: <\/strong>State-owned Pertamina Drilling<\/a>Services Indonesia (PDSI)<\/a> awarded Ades a three-year contract that could potentially be extended to five years to operate Ades\u2019 existing jack-up drilling rig Emerald Driller in the Java Sea. Ades drew a line under the contract\u2019s favorable pricing, which it says is at a day rate higher than the going average with a \u201chigh double-digit increase.\u201d Operations are set to start in 2H 2024. Indonesia becomes Ades\u2019 eighth country<\/strong>; the Emerald Driller is currently stationed in Qatar.<\/p>\n

Not a first in Algeria: <\/strong>State-owned oil company Sonatrach<\/a> has awarded Ades two five-year contracts worth a combined SAR 296 mn to operate two of Ades\u2019 existing onshore rigs dubbed (ADES 810 and ADES 815), which are currently in Egypt. The company expects to start operations in 2H 2024.<\/p>\n

\u201cRevenue replenishment\u201d is the name of the game <\/strong>for a driller such as Ades, which needs to book business ahead of existing contracts ending when fields peter out. An emphasis on long-term contracts \u201coffers robust cashflow visibility,\u201d said Ades CEO Mohamed Farouk.<\/p>\n

Ades does a mix of onshore and offshore work across MENA and in India. <\/strong>It went public this fall in a high-profile IPO on the Tadawul orchestrated by the Public Investment Fund (PIF). The PIF bought London-listed driller and took it private ahead of the transaction. The USD 1.2 bn IPO was priced at the top of the range<\/a> after heavy interest from both institutional and individual buyers, making it the Kingdom\u2019s biggest IPO this year<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Oil driller Ades lands contracts in Indonesia, Algeria: Fresh off its hot IPO, Tadawul-listed oil and gas drilling company Ades Holding has inked three contracts worth combined SAR 1 bn (USD 293 mn) in Indonesia and Algeria, it said in a regulatory filing (pdf) yesterday. Southeast Asia is new for the Egypt-born company: State-owned Pertamina […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[409,408,2425,10,410,411],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82284","post","type-post","status-publish","format-standard","hentry","category-energy","tag-ades-holding","tag-drilling","tag-energy","tag-enterpriseam-ksa","tag-pertamina-drilling-services-indonesia","tag-sonatrach","wpautop","entry"],"acf":{"mongo_id":"96fcee87-004d-4545-bf17-a31e0fbe804f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1128.jpgbr!_StoryDek_!%20The%20listed%20drilling%20company%20inks%20three%20int\u2019l%20contracts%20worth%20a%20combined%20SAR%20+1%20bn","photo_position":"above","homepage_title":"","full_issue_title":"Ades Holding signs its inaugural contract in Indonesia + two new contracts in Algeria","related_issue":[82275],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.f0a23568-a470-49bb-ab3b-23e42a1ee889.mp3"},"yoast_head":"\nAdes inks contracts in Indonesia + Algeria worth a combined SAR 1 bn - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn\" \/>\n<meta property=\"og:description\" content=\"Oil driller Ades lands contracts in Indonesia, Algeria: Fresh off its hot IPO, Tadawul-listed oil and gas drilling company Ades Holding has inked three contracts worth combined SAR 1 bn (USD 293 mn) in Indonesia and Algeria, it said in a regulatory filing (pdf) yesterday. Southeast Asia is new for the Egypt-born company: State-owned Pertamina […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-22T00:00:00+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn\",\"datePublished\":\"2023-11-22T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/\"},\"wordCount\":305,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"keywords\":[\"Ades Holding\",\"Drilling\",\"ENERGY\",\"EnterpriseAM KSA\",\"Pertamina Drilling Services Indonesia\",\"Sonatrach\"],\"articleSection\":[\"ENERGY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/\",\"name\":\"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"datePublished\":\"2023-11-22T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/","og_locale":"en_US","og_type":"article","og_title":"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn","og_description":"Oil driller Ades lands contracts in Indonesia, Algeria: Fresh off its hot IPO, Tadawul-listed oil and gas drilling company Ades Holding has inked three contracts worth combined SAR 1 bn (USD 293 mn) in Indonesia and Algeria, it said in a regulatory filing (pdf) yesterday. Southeast Asia is new for the Egypt-born company: State-owned Pertamina […]","og_url":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/","og_site_name":"KSA","article_published_time":"2023-11-22T00:00:00+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn","datePublished":"2023-11-22T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/"},"wordCount":305,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"keywords":["Ades Holding","Drilling","ENERGY","EnterpriseAM KSA","Pertamina Drilling Services Indonesia","Sonatrach"],"articleSection":["ENERGY"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/","url":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/","name":"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"datePublished":"2023-11-22T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2023\/11\/22\/ades-inks-contracts-in-indonesia-algeria-worth-a-combined-sar-1-bn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Ades inks contracts in Indonesia + Algeria worth a combined SAR 1 bn"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/82284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=82284"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/82284\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/82275"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=82284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=82284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=82284"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=82284"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=82284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}