ADES Resumes Operations of All Temporarily Suspended Offshore Rigs in KSA

ADES Holding Company (ADES) has received resumption notices covering all of its temporarily suspended offshore drilling rigs in Saudi Arabia, marking the return to full activity of its affected offshore fleet in the Kingdom.

The resumption follows an easing of the regional situation and reflects the continued strength of the offshore drilling market, with contracted jackup utilization remaining at around 90% and day rates continuing to hold firm.

The development reinforces ADES’s position as a major offshore drilling contractor and the world’s largest owner of jackup rigs, with the Group operating a diversified fleet across Saudi Arabia and international markets.

The resumption notices cover all of ADES’s offshore rigs in Saudi Arabia that had been temporarily suspended. The rigs are now being returned to operational activity in accordance with the relevant client requirements and operational readiness procedures.

The company said the temporary suspensions were event-driven rather than demand-driven and were expected to be short-term in nature. The latest development is consistent with the outlook communicated by ADES in its FY2026 guidance issued in March 2026.

The Saudi Arabian resumption follows the return to full operations of ADES’s offshore rigs in Qatar, further supporting a broad-based recovery in the Group’s GCC offshore drilling activities.

The returning rigs will support offshore drilling programs for ADES’s clients in Saudi Arabia, providing jackup drilling capacity and associated offshore drilling services required for upstream oil and gas operations.

ADES’s offshore drilling activities include the deployment and operation of jackup drilling rigs for offshore oil and gas exploration and production programs. The company’s drilling services cover the operation of modern offshore drilling units and associated personnel, equipment and technical capabilities required to execute drilling campaigns safely and efficiently.

The resumption of the suspended rigs is expected to strengthen fleet utilization and support ADES’s revenue and earnings outlook for 2026, while maintaining the company’s capacity to serve major national and international oil companies.

Commenting on the announcement, Dr. Mohamed Farouk, CEO of ADES Holding, said the swift resumption of all temporarily suspended offshore rigs in Saudi Arabia, together with the earlier return of its Qatar fleet, demonstrates the Group’s operational readiness and commitment to maintaining the highest standards of safety.

He emphasized that the safety of ADES personnel and assets remains the company’s highest priority and that the disciplined approach adopted during the suspension period enabled the company to preserve operational integrity and resume activities quickly once conditions permitted.

ADES has also reiterated its FY2026 EBITDA guidance of SAR 4.50 billion to SAR 4.87 billion, supported by its 123-rig platform, continued realization of synergies from the Shelf Drilling acquisition, and positive momentum across its international operations.

The return of the Saudi offshore fleet further strengthens ADES’s position as a Saudi national champion with a global operating footprint and a key drilling services partner to leading national and international oil companies.