ADES Holding Company, a subsidiary of Saudi Arabia-based ADES Group, has secured a contract extension for its Sapphire Driller jack-up rig with North Oil Company (NOC), a joint venture between QatarEnergy (70%) and TotalEnergies (30%), according to the company's release.
The agreement, announced on May 19, 2025, covers a firm duration of four years with three additional one-year options.
The contract enables the rig to continue its offshore drilling operations in Qatar’s Al Shaheen oil field, located 80 kilometers northeast of Ras Laffan.
The total contract backlog, including firm and optional periods, is estimated at SAR 816 million ($217.6 million).
ADES Holding Company, headquartered in Al Khobar, Saudi Arabia, is a provider of offshore and onshore drilling and production services in the Middle East and North Africa (MENA) region. The company operates a fleet of 85 rigs across seven countries, including 36 onshore drilling rigs, 46 jack-up offshore drilling rigs, two jack-up barges, and one mobile offshore production unit (MOPU).
North Oil Company (NOC) is a joint venture between QatarEnergy (70%) and TotalEnergies (30%), operating the Al Shaheen oil field, located 80 kilometers northeast of Ras Laffan, Qatar. NOC employs a technical and industrialized approach to drill complex and extended-reach wells at the field, managing challenges such as tight well spacing and collision risks through precise engineering.