{
  "id": 16727902,
  "title": "ADES Wins 173.14M SAR Indonesia Drilling Deal",
  "url": "https://urgent.news/2026/10/27/ades-wins-173-14m-sar-indonesia-drilling-deal",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-27T08:39:18.000Z",
  "source": {
    "name": "The Saudi Standard",
    "slug": "the-saudi-standard",
    "url": "https://saudistandard.com/2026/10/27/ades-wins-173-million-sar-indonesia-drilling-deal/"
  },
  "original_language": "en",
  "account": "Saudi-based ADES Holding Co. has secured an offshore drilling contract in Indonesia for approximately 173.14 million SAR (around 46.17 million USD). The agreement, signed with PT Pertamina Hulu Mahakam, pertains to jack-up rig services utilizing the Shelf Drilling Perseverance, and includes mobilization and demobilization fees. The contract spans a firm period of 406 days with the potential for a 30-day optional extension. The Shelf Drilling Perseverance is currently engaged in a short-term campaign in the region before commencing operations expected by late December 2026. This contract adds a new client to ADES' Southeast Asia portfolio, enriching its regional presence and bolstering near-term revenue visibility. The deal underscores the ongoing demand for offshore jack-up capacity in the Southeast Asia market, a sector where ADES is actively expanding. For investors, the new contract bolsters ADES' backlog, introduces a new client relationship with PT Pertamina Hulu Mahakam, and presents a platform for repeat work in Indonesia, thereby reducing dependence on a single operator. The contract's terms provide structured, contractually protected revenue and signals ADES' disciplined international expansion strategy.",
  "summary": "Riyadh, Saudi Arabia — ADES Holding Co. has signed a new offshore drilling contract worth approximately 173.14 million SAR (about 46.17 million USD) with PT Pertamina Hulu Mahakam in Indonesia. The deal covers jack-up rig services using the Shelf Drilling Perseverance and includes mobilization and demobilization fees. Operations are expected to begin around the end […] The post ADES Wins 173.14M…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}