A towing incident has occurred on Saudi oil and gas drilling contractor ADES Holding’s jack-up barge Admarine 12, which capsized offshore Eqypt, killing four people, while three remain missing.
The incident occurred on Tuesday, July 1, while the barge was being towed to a new location in Egyptian territorial waters.
At the time of the incident, 30 personnel were on board, involving 18 from ADES personnel.
According to the latest information, 23 have been safely rescued, while remain missing and subject to intensive ongoing search operations by the relevant authorities.
Tragically, the incident resulted in the loss of life, including three fatalities among ADES personnel and one fatality among personal contracted by third parties.
“The company is committed to offering comprehensive support to the families of those impacted by this tragic event.
“The Company is working closely with local authorities and emergency services, with the safety and well-being of all personnel remaining its highest priority. A full and thorough investigation into the incident will be conducted,” ADES Holding said in a statement.
At this stage, the company said it does not expect any material impact on its financial position or published guidance for the fiscal year 2025.
“The company remains firmly committed to maintaining the highest safety standards across all its operations.
“We extend our deepest condolences and sincere support to the families and colleagues of those affected by this tragic incident,” ADES added.