ADES Granted Approval to Resume All Suspended Offshore Drilling Operations in Saudi Arabia

en.Wedoany.com Reported - ADES Holding Company has received approval to resume operations on all of its temporarily suspended offshore drilling rigs in Saudi Arabia. The company, an oil and gas drilling services provider under the Saudi Arabia-based ADES Group, is returning to work amid a continued recovery in offshore activity across the Gulf Cooperation Council (GCC) region.

In March 2026, some of ADES's offshore drilling rigs in the GCC region were temporarily suspended due to tensions in the Middle East. The company has now received notices to resume operations on all suspended rigs in Saudi Arabia.

This resumption is seen as a reflection of persistently strong fundamentals in the offshore market, with jack-up rig contract utilization currently holding at around 90% and day rates remaining firm in a structurally tight market. The company believes that the suspension of some of its offshore rigs in the GCC region was event-driven rather than demand-driven, and was short-term in nature.

Dr. Mohamed Farouk, CEO of ADES Holding, stated that the company is pleased with the swift resumption of all suspended rigs in Saudi Arabia, and that its Qatari rigs have also resumed activity and are fully operational, indicating a steady and broad return of operational activity across the GCC region. He said this return is attributed both to the easing of regional tensions and to the team's commitment to safety and operational readiness standards, with the safety of personnel and assets remaining the company's highest priority.

Farouk also reaffirmed that the company's EBITDA guidance range for fiscal year 2026 remains at SAR 4.5 billion to SAR 4.87 billion, a target underpinned by the scale and diversification of its business platform comprising 123 drilling rigs, the continued realization of Shelf Drilling synergies, and positive momentum in international markets, consolidating its position as a Saudi national champion with a global footprint and a trusted partner to leading national and international oil companies.

This resumption of drilling activities comes less than two months after ADES signed an agreement with Saipem to acquire Saipem Saudi Arabia (SAS), a deal that further expands ADES's jack-up drilling rig fleet.