ADES International signed a one-year extension contract for an Algerian onshore rig, Pipeline Oil and Gas Magazine reported.

“We are particularly pleased with the extension for Rig 828 in Algeria which is a strong endorsement of our client’s confidence and demonstrates our ability to build value from recent acquisitions,” Mohamed Farouk, ADES CEO said.

The Algerian contract of RIG 828 was extended for a year after being acquired from Weatherford under the same terms. The contract will run until June 2020.