Money and business
Awarding a contract to operate an offshore drilling rig in Thailand for 1.03 billion riyals
Addis Holdings has received a letter of award for a contract to operate a jack-up offshore drilling rig in Thailand.
According to the company’s statement on the Saudi Tadawul, the cumulative value of the contract is estimated at 1.035 billion riyals.
The contract extends for a fixed period of five years, with the possibility of extension for another three years.
The contract includes operating the Admarin 503 platform, which is a similar platform to the Admarin 502 platform, which began operations in Thailand during the third quarter of this year.
It reported the success of restarting the fourth of its platforms that was temporarily suspended in Saudi Arabia.
According to the company’s statement on the Saudi Tadawul, the cumulative value of the contract is estimated at 1.035 billion riyals.
The contract extends for a fixed period of five years, with the possibility of extension for another three years.
The contract includes operating the Admarin 503 platform, which is a similar platform to the Admarin 502 platform, which began operations in Thailand during the third quarter of this year.
It reported the success of restarting the fourth of its platforms that was temporarily suspended in Saudi Arabia.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
Follow Us
