Advanced Energy Systems (ADES) International, a drilling contractor, renewed its contract with a client in Saudi Arabia for the jack-up drillship, ADMARINE 262, according to Pipeline Oil and Gas News.

The LeTourneau Class 82 SD-C type jack-up, ADMARINE 262’s renewal will take effect after the expiry of its current contract in April 2020. The contract will be renewed for five more years, allowing ADES to have a higher daily rate.

Mohamed Farouk, CEO of ADES International Holding commented that this will support the company’s presence in Saudi Arabia and will “underpins ADES’s track record for securing renewals for our fleet which results in greater backlog visibility.”