News & Announcements

ADES

13 June, 2024 15:50

ADES Holding Company Completes the signing of a Jack-up Drilling Contract in Egypt with SUCO

Element List	Explanation
Date of Announcement of the Award	2024-05-05 Corresponding to 1445-10-26
Contract Subject Matter	Contract for Offshore Drilling Services
The Entity with Which the Contract was Signed	Suez Oil Company (SUCO)
Date of Signing the Contract	2024-06-13 Corresponding to 1445-12-07
Contract Value	Approximately SAR 185 million
Contract Details	2-years firm contract with SUCO in Egypt for a standard jack-up rig from ADES' current fleet.
Contract Duration	2-years firm contract.
Financial Impact and the Relevant Period	Operations are expected to commence in the second half of 2024
Related Parties	N/A
Additional Information	Its worth noting that the duration of the contract award announced on 05 May 2024 was 21 months but became 2-years according to the signed contract, which lead to the change in contract value from approximately SAR 161 million to approximately SAR 185 million

Other Announcements

BUPA ARABIA

2024-06-25

BUPA ARABIA FOR COOPERATIVE INSURANCE CO. ANNOUNCES THE STARTING OF ELECTRONIC VOTING ON THE AGENDA OF THE EXTRAORDINARY GENERAL ASSEMBLY MEETING (FIRST MEETING AND THE SECOND AN HOUR AFTER THE FIRST)

2024-06-25

Ash- Sharqiyah Development Company Announces starting the electronic voting on the agenda items of the extraordinary general assembly meeting (First Meeting) by means of the modern technology