Saudi offshore drilling contractor ADES Holding has secured two ONGC contracts worth a combined SAR 439.6 million ($117.2 million) for the deployment of two standard jackup drilling rigs in Indian waters.
The contracts, awarded by India’s Oil and Natural Gas Corporation (ONGC), cover the jackup rigs Key Singapore and Admarine 10, each with a firm three-year drilling assignment. The combined contract value includes mobilisation fees for both units.
According to the company’s announcement to the Saudi Exchange on 8 November 2026, the contracts were awarded on 5 November.
Both rigs are currently engaged in drilling campaigns that are expected to conclude by the end of the fourth quarter of 2026. Operations under the new ONGC agreements are scheduled to begin by the end of the first quarter of 2027.
The awards will secure a further three years of contracted employment for each rig, supporting the continued deployment of the two units in India.
ADES said the contracts strengthen its existing presence in the Indian offshore drilling market and maintain its working relationship with ONGC.
The latest agreements provide the Saudi contractor with six combined rig-years of firm work. The company expects both rigs to move into their new assignments following completion of their current drilling programmes.
