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 Lives (in years) | |
December 31,
2025 | | |
December 31,
2024 | |
| Buildings and leasehold improvements | |
5 to 25 | |
$ | 56,937 | | |
$ | 55,283 | |
| Drilling rigs, plant and equipment | |
1 to 15 | |
| 818,147 | | |
| 747,905 | |
| Office equipment (furniture and fixtures) and tools | |
3 to 10 | |
| 14,785 | | |
| 16,658 | |
| Vehicles and cranes | |
5 to 10 | |
| 9,364 | | |
| 9,713 | |
| Property plant and equipment, gross | |
5 to 10 | |
| 9,364 | | |
| 9,713 | |
| Less: Accumulated depreciation | |
| |
| (522,072 | ) | |
| (443,367 | ) |
| Land | |
| |
| 11,664 | | |
| 11,664 | |
| Capital work in progress | |
| |
| 76,629 | | |
| 40,290 | |
| Total | |
| |
$ | 465,454 | | |
$ | 438,146 | |
|