ADES-Vantage JV secures another deepwater drilling gig in Egypt

ADES International, an oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has entered into a second deepwater drilling campaign with an international oil company for deepwater drilling services in the Egyptian Mediterranean area.

Vantage’s Tungsten Explorer; Author: SP Mac

ADES said on Friday that the service would be provided using Vantage’s Tungsten Explorer drillship and covers one firm well, “Nigma 1”, with the contract estimated to last 73 days.

The services will be subcontracted to ADVantage, a JV between ADES and Vantage Drilling International.

ADVantage utilizes ADES’s experienced local workforce and Vantage’s Tungsten Explorer drillship while combining the companies’ extensive deepwater drilling experience.

The contract will operate on a profit-sharing basis, enabling ADES to generate additional revenue without incurring the significant capital expenditures normally associated with deepwater drilling.

Dr. Mohamed Farouk, Chief Executive Officer of ADES International Holding, said: “We are extremely pleased to have secured a second deepwater drilling campaign with our top tier client in the Mediterranean, where we will build on our track record of consistently delivering high-quality service to our clients. This project is fully consistent with our focus on the region. With a string of major gas discoveries propelling demand for oil and gas services and prospective drilling programs, lucrative commercial opportunities continue to attract attention. ADES is on the right track, as we fully leverage our valuable partnership with Vantage and its high-quality asset in Egypt’s ultra-deepwater market.”

It is worth reminding that the JV between ADES and Vantage last March also won a short-term exploration contract with Dana Gas for deepwater drilling services in the Egyptian Mediterranean basin. The services were also provided using Vantage’s Tungsten Explorer drillship.


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply