Icon Offshore Bhd announced that the company has sell its jack-up rig to Saudi Arabia-based ADES Saudi Limited for USD85 million (equivalent to approximately RM385.48 million)
Previously, in a statement on Aug 30 and Oct 11, Icon Offshore said its wholly owned subsidiary Icon Caren (L) Inc has entered into an agreement with ADES for the disposal of jack-up rig Perisai Pacific 101.
The company noted that the disposal consideration of USD 85 million is more than double the USD 41.79 million it spent to purchase the drilling rig from Perisai Petroleum Teknologi Bhd back in October 2020.
Read also: Icon Offshore to buy rig PP101 from Perisai Petroleum and Icon Offshore secures jack up contract from ConocoPhilips
PP101 is a jackup drilling rig built in 2014 in PPL Shipyard, Singapore with Pacific Class 400 design and registered in Port Klang.
About Icon Offshore and Ades Saudi Limited
Icon Offshore is an offshore support vessels provider in Malaysia which provides a wide range of logistical support services throughout the entire offshore O&G life cycle from exploration and appraisal, field development and operation and maintenance, through to decommissioning.
ADES is a leading oil and gas drilling and production services provider in the Middle East and Africa, ADES Group is a listed London stock Market since Q2 2017.with a significant foot print expansion in KSA operating 17 onshore & offshore Rigs, huge fleet in Kuwait and Algeria in addition to existence in Africa with total fleet of 23 offshore jackups, 1 MOPU (Mobile Offshore production Unit) and 36 onshore units (650 HP – 3000 HP).
