The first contract after the acquisition of Shelf Drilling consolidates the group’s presence in the plug & abandonment market
Riyad- Ades, a Saudi company active in oil & gas drilling, has secured a new two-year contract for the jackup Compact Driller with Brunei Shell Petroleum, the first since the completion of the acquisition of Shelf Drilling. The agreement, worth approximately 236 million Saudi riyals (63 million dollars), was signed through Shelf Drilling itself, now fully controlled by ADES. The platform, built in 1992, will be used for plug and abandonment activities offshore Brunei.
The project start is scheduled for the fourth quarter of 2026, after a preparation phase in Singapore; until May 2026 the unit will remain operational in India. According to CEO Mohamed Farouk, the contract award confirms the validity of the Shelf Drilling acquisition, thanks to the jackup’s solid reputation in terms of safety and P&A experience in Southeast Asia.
Ades completed the acquisition of Shelf Drilling last November in a deal worth approximately 520 million dollars. Headquartered in Al Khobar, the group manages the world’s largest fleet of offshore jackups, consisting of 81 units, plus a jackup barge, a mobile offshore production unit, and 40 onshore plants distributed across 19 countries.
