RigCo extends AD110 jackup charter to Arabian Drilling through 2030

Rigco Holding (RigCo), an indirect Keppel subsidiary, secured a bareboat charter extension for the AD110 jackup with Arabian Drilling Company (ADC). The extension runs about five years, from 2026 to 2030, in direct continuation of the rig’s prior contract. The AD110 is working in Saudi Arabia for ADC’s client.

The AD110 was among the rigs deployed to Saudi Arabia under bareboat charter arrangements secured in 2022. Keppel said jackup utilization and dayrates have stayed solid since then, with very little new supply under construction.