Saudi Arabia-based oil and gas drilling services provider ADES Holding Company (ADES) is set to resume several of its drilling contracts in the country.
ADES will recommence multiple onshore agreements and one offshore contract, which is scheduled to restart in January 2026.
The company will deploy the Admarine 510 rig, which recently secured a contract in Cameroon and is currently being prepared in Bahrain for deployment.
This rig will be allocated for the Cameroon contract after completing its current tenure in Nigeria, which could extend for up to two years.
ADES Holding CEO Mohamed Farouk said: “We are very pleased to announce the resumption of a number of contracts in Saudi Arabia, which marks another important milestone in our home market and validates our positive long-term view on the strength of demand in the kingdom and globally.”
ADES’ reinstatement of the onshore rigs in Saudi Arabia follows their temporary suspension, as mentioned in its earnings release for the first half of 2025.
These resumptions are supported by strong global market conditions, with jack-up utilisation rates exceeding 90% and stable day rates.
Farouk added:“Meanwhile, the deployment of Admarine 510 to fulfill the offshore commitment exemplifies ADES’ operational agility and the strength of our global platform, allowing us to seamlessly meet client requirements while efficiently utilising our fleet.
“We are delighted to see our rigs returning to Saudi Arabia and the wider GCC [Gulf Cooperation Council] region, even as we continue expanding our presence in high-growth areas such as West Africa.”
ADES, based in Al Khobar, operates internationally with a fleet of 90 rigs across 13 countries, employing more than 8,000 people.
The fleet includes 40 onshore rigs, 48 jack-up offshore rigs, a jack-up barge and a mobile offshore production unit.
Last month, ADES announced revised terms for its proposed merger with Shelf Drilling, increasing the cash consideration by 28% to Nkr18.50 ($1.88) per share.
This month, Shelf Drilling’s shareholders approved the proposed merger with ADES at an extraordinary general meeting.
