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) | |
June
30, 2026 | | |
December
31, 2025 | |
| Buildings
and leasehold improvements | |
5
to 25 | |
$ | 56,795 | | |
$ | 56,937 | |
| Drilling
rigs, plant and equipment | |
1
to 15 | |
| 897,380 | | |
| 818,147 | |
| Office
equipment (furniture and fixtures) and tools | |
3
to 10 | |
| 14,936 | | |
| 14,785 | |
| Vehicles
and cranes | |
5
to 10 | |
| 8,375 | | |
| 9,364 | |
| Property plant and equipment, gross | |
5
to 10 | |
| 8,375 | | |
| 9,364 | |
| Less:
Accumulated depreciation | |
| |
| (538,904 | ) | |
| (522,072 | ) |
| Land | |
| |
| 11,664 | | |
| 11,664 | |
| Capital
work in progress | |
| |
| 80,439 | | |
| 76,629 | |
| Total | |
| |
$ | 530,685 | | |
$ | 465,454 | |
|