{"id":97064,"date":"2025-05-15T00:00:00","date_gmt":"2025-05-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/15\/ades-inks-sar-816-mn-rig-extension-gas-arabian-services-awarded-sar-830-mn-in-contracts\/"},"modified":"2025-05-15T00:00:00","modified_gmt":"2025-05-15T00:00:00","slug":"ades-inks-sar-816-mn-rig-extension-gas-arabian-services-awarded-sar-830-mn-in-contracts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/15\/ades-inks-sar-816-mn-rig-extension-gas-arabian-services-awarded-sar-830-mn-in-contracts\/","title":{"rendered":"Ades inks SAR 816 mn rig extension + GAS Arabian Services awarded SAR 830 mn in contracts"},"content":{"rendered":"

\n

OIL & GAS-<\/p>\n

#1- <\/strong>Ades e<\/strong>xtends jackup rig contract for SAR 816 mn:<\/strong> Tadawul-listed Ades Holding inked a SAR 816 mn, four-year contract extension with Qatari-based North Oil Company \u2014 a joint venture between QatarEnergy and TotalEnergies \u2014 to continue leasing the Sapphire Driller jackup rig, it said in a press release (pdf)<\/a>. The new contract introduced a better daily rate and includes an option for three additional one-year extensions.<\/p>\n

ICYMI-<\/strong> Ades secured an extension in April<\/a> for three of its offshore jackup rigs operating in Egypt \u2014 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).<\/p>\n

\n

\n

#2- <\/strong>SPPC to ad<\/strong>d two gas delivery systems worth over SAR 830 mn: <\/strong>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<\/a> (IPP) and a SAR 504.3 mn one will be established at the Nairiyah IPP<\/a>. <\/p>\n

REFRESHER-<\/strong> Nomu-listed GAS withdrew its request to transition to Tadawul\u2019s main market in<\/a>January<\/a>, citing the need to square away additional liquidity and regulatory requirements. The Dammam-based company had submitted its request to move up Tadawul\u2019s big league back in September 2024<\/a>.<\/p>\n

\n

AVIATION-<\/p>\n

Riyadh Air ha<\/strong>s tapped US-based travel technology company <\/strong>Sabre<\/a><\/strong> as its first <\/strong>global distribution partner<\/strong>, according to a statement<\/a> from Sabre last Tuesday. The partnership will enable Riyadh Air to provide personalized travel offers to travel agents, corporate buyers, and customers through Sabre\u2019s New Distribution Capabilities (NDC) and traditional content.<\/p>\n

Fast friends:<\/strong> Riyadh Air had also hired Sabre in February 2024<\/a> to provide its end-to-end solutions to the airliner\u2019s network planning, commercial and analytics operations.<\/p>\n

Our newest air carrier has also partnered with <\/strong>TPConnects Technologies<\/a><\/strong> to make the airline\u2019s NDC content and servicing functions available on TPConnects\u2019 Iris aggregator platform, according to a statement<\/a> from TPConnects last Tuesday.<\/p>\n

REMEMBER- <\/strong>Riyadh Air is set to kick off its operations<\/a> next year and has a target of operating flights between 100 destinations by 2030.<\/p>\n

\n

MINING-<\/p>\n

Amak secur<\/strong>es three exploration licenses: <\/strong>Al Masane Al Kobra Mining Company<\/a> (Amak) received three exploration licenses \u2014 following a successful bidding process in January \u2014 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<\/a>.<\/p>\n

The details: <\/strong>Amak\u2019s 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\u2019s existing Radeniah East exploration concession.<\/p>\n

\n

DEBT WATCH-<\/p>\n

Shalfa Facilities Management<\/a><\/strong> secured the renewal of a SAR 250 mn Sharia-compliant <\/strong>credit facility from Aljazira Bank<\/strong>, it said in a filing<\/a> to the exchange. The facility \u2014 valid until April 2026 \u2014 will be used to finance the company\u2019s ongoing and upcoming projects.<\/p>\n

REMEMBER-<\/strong> The Nomu-listed facility service provider lined up one-year SAR 75 mn credit facilities from the Saudi Investment Bank in March<\/a>, to back project guarantees, site preparation, and working capital needs.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new ADES contract extension with North Oil Company includes an improved daily rate<\/p>\n","protected":false},"author":1,"featured_media":97065,"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":[2564],"tags":[54,10,2213],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-siemens-energy","wpautop","entry"],"acf":{"mongo_id":"8d3d5a56-0d62-450f-b156-603b0ccfcd3b","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1060.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ades inks SAR 816 mn rig extension + GAS Arabian Services awarded SAR 830 mn in contracts","related_issue":[97044],"teaser":"The new ADES contract extension with North Oil Company includes an improved daily rate","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.0746179b-6e5c-4a25-a48c-5b2b6c1ab58f.mp3"},"yoast_head":"\nAdes inks SAR 816 mn rig extension + GAS Arabian Services awarded SAR 830 mn in contracts - 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