Advanced Energy Systems (ADES), part of Saudi Arabia-based ADES Holding, has signed a major multi-year contract extension with QatarEnergy for its Aquamarine Driller jackup rig.
The extension carries a firm duration of four years, with an additional three one-year options, bringing the total potential contract value to around SAR 808 million ($215 million).
The Aquamarine Driller, a Baker Marine Pacific Class 375 jackup, is designed for operations in water depths of up to 375 feet (114 meters). The rig was originally acquired in 2021 from Vantage Drilling, along with two other units, as part of ADES’ fleet expansion strategy.
This deal marks the second long-term award for ADES in Qatar in 2025, following the extension of the Sapphire Driller with North Oil Company (NOC), a joint venture between QatarEnergy and TotalEnergies, earlier this year.
Beyond strengthening its Qatar presence, ADES is actively expanding its portfolio. In August 2025, the company made an offer to acquire Shelf Drilling, a deal expected to close in Q4 2025. Once finalized, Shelf will be fully owned by ADES and delisted from the Oslo Stock Exchange.
Meanwhile, QatarEnergy has also expanded its international footprint, recently winning the Nzombo exploration permit offshore Congo with TotalEnergies and Société Nationale des Pétroles du Congo (SNPC), targeting an exploration well by the end of 2025.
