Property,
plant, and equipment, net of accumulated depreciation, of the Company consists of the following as of the period end dates set forth
below (in US$ thousands):
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT
| | |
| |
| | |
| |
| | |
Estimated Useful | |
As of | |
| | |
Lives (in years) | |
September 30, 2025 | | |
December 31, 2024 | |
| Buildings and leasehold improvements | |
5 to 25 | |
$ | 55,990 | | |
$ | 55,283 | |
| Drilling rigs, plant and equipment | |
1 to 15 | |
| 789,903 | | |
| 747,905 | |
| Office equipment (furniture and fixtures) and tools | |
3 to 10 | |
| 14,982 | | |
| 16,658 | |
| Vehicles and cranes | |
5 to 10 | |
| 9,227 | | |
| 9,713 | |
| Property plant and equipment, gross | |
5 to 10 | |
| 9,227 | | |
| 9,713 | |
| Less: Accumulated depreciation | |
| |
| (497,029 | ) | |
| (443,367 | ) |
| Land | |
| |
| 11,664 | | |
| 11,664 | |
| Capital work in progress | |
| |
| 52,497 | | |
| 40,290 | |
| Total | |
| |
$ | 437,234 | | |
$ | 438,146 | |
|