Riyadh — Mubasher: ADES Holding Company issued a follow-up disclosure regarding the one-year contract extension for the Shelf Drilling Tenacious jack-up rig operating in Angola.
The company identified the contracting party as Cabinda Gulf Oil Company Limited (CABGOC), a subsidiary of Chevron.
This announcement follows the initial notification released on 28 October, concerning the activation of the extension option for the offshore platform.
The Saudi group stated that the identification of the counterparty represents the primary update to the previous disclosure.
ADES Holding confirmed there is no immediate financial impact resulting from this specific clarification.
The rig will continue its operations in Angola under the extended terms provided by the agreement with the Chevron affiliate.
