Energy Drilling secures five-year drilling contract with PTTEP

SED Energy Holdings announced that its subsidiary, Energy Drilling, signed a five-year contract with PTT Exploration and Production Public Company (PTTEP) for an offshore drilling campaign using its tender-assist drilling rig, EDrill-2.

The contract has a firm duration of five years, with an additional three-year optional period, and is scheduled to commence in October 2025. The contract will contribute significantly to the company’s backlog, with a potential total value of $250 million, assuming full exercise of the option period and upward index adjustments.