ADES Holding Company (ADES), a world‑leading oil and gas drilling services provider, announced that it has secured a contract award from Valeura Energy, a subsidiary of Valeura Energy Inc, for the provision of offshore drilling services in Thailand.

The total contract value for the firm period only is approximately SAR 345 million (approx. USD 92 million), excluding mobilization and demobilization.

The contract term comprises three-year firm, with a one-year unpriced optional extension.  Operations are expected to commence in Q4 2026 after it finishes its current campaign in the region.

The company stated that, the rig is already located in-region, supporting efficient deployment and continuity of utilization. The award strengthens ADES’ backlog visibility and supports disciplined fleet placement in one of the Group’s core operating markets.