Ades Holding Secures Contract to Boost Brownfields Oil Production in Egypt

Ades Holding Co. announced on Wednesday the successful acquisition of a service contract agreement with General Petroleum Corporation (“EGPC”) to enhance Brownfields Oil Production in Egypt.

This venture, formed through a consortium partnership with a prominent local Exploration and Production (E&P) entity, is set to operate and optimize production in key oil brownfields in Egypt, specifically the SUCO and OSOCO fields.

The company reported today on Tadawul that this newly secured contract spans a 10-year period, with the potential for extension for an additional 10 years.