ADES International Secures Contracts In Egypt, Saudi Arabi

ADES International Holding PLC on Monday said it secured two contracts, one in the Kingdom of Saudi Arabia (KSA) and one in Egypt.

In the KSA, the company has successfully extended a rig contract for three additional months to now run until the end of the first quarter of 2021. Earlier this year the same contract was extended by six months.

In Egypt, it has a new two-year early production facility contract. It will establish an early production deck floor and topside facilities for the client, along with a jack-up barge charter.

ADES said this contract highlights the company’s agility in providing innovative solutions to its clients in the current challenging market conditions – with this approach enabling a quicker route to production than a fully-fledged production facility.

Your Friends Also Read:  Sudan: What is the Cost of a Revolution?

“We are extremely pleased to secure an early production facility contract with a top-tier client in Egypt,” said ADES chief executive Dr Mohamed Farouk in a statement.

“Our differentiated business model highlights the Group’s innovative capabilities and tailored solutions to meet clients’ requirements and business needs. By utilizing the Group’s existing assets to set up an early production facility, our clients have the opportunity to optimize capex spend by shifting to a more cost-efficient opex-based model and focus on increasing production quicker and at a lower cost.

“This innovative model further strengthens our position as a market leader in Egypt and coupled with the extension in KSA, offers greater backlog visibility during the current market conditions,” he added.


All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.

Contact: digital@newscentral.ng

Total
0
Shares
Previous Article

Suspected Rebel Group Kill Several In Ethiopia's Oromia

Next Article

West Africa's Exam Body, WAEC, Withholds 215,149 SSCE Candidates' Results In Nigeria

Related Posts

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.