Italian energy services company Saipem has signed a binding agreement to sell its shallow-water drilling business in Saudi Arabia to ADES Saudi Limited Company for $285 million, as it seeks to focus on deepwater and harsh-environment offshore drilling…
Offshore drilling contractor ADES Holding has extended the contract for Shelf Drilling Winner rig with Tenaz Energy Netherlands from a one-year to a three-year firm term for operations in the Dutch sector of the North Sea.The company said the contract…
On 29 May 2026, Vantage Drilling International and Eldorado Drilling signed a merger agreement under which Eldorado will acquire Vantage, making it a wholly owned subsidiary. As part of the transaction, Vantage shareholders will receive $19 per share in cash…
Offshore drilling contractor ADES Holding has secured a new contract in Nigeria for its Main Pass IV standard jack-up rig.The contract has a one-year firm term with an additional one-year unpriced option, with the firm term value of the contract of $48…
Conrad Asia Energy, via its subsidiary West Natuna Exploration Limited (WNEL), has signed a binding contract with PT Pertamina Drilling Services Indonesia through the PDSI–ADES Consortium for the provision of a jack-up drilling rig to support development of the Mako gas field offshore Indonesia…
Offshore drilling contractor ADES Holding has secured multi-year contracts for three premium jack-up rigs offshore Nigeria and a separate one-year extension for another rig, strengthening its presence in West Africa.The drilling services provider…
Saudi Arabian oil and gas drilling contractor ADES International Holding has reported it expects 44% rise in its core earnings in 2026, despite having several of its offshore rigs in the Gulf region temporarily suspended due to ongoing regional tensions…
Canada-based oil and gas company Valeura Energy has signed an agreement with Shelf Drilling to chart the Shelf Drilling Enterprise jack-up rig for a three-year term through the end of 2029.The rig, owned by Shelf Drilling (Southeast Asia), a subsidiary of ADES Holding Company…
Continued idling of assets should the conflict persist would see wider MODU market tightening as drillers and NOCs manage capacity.The impact of the war in the Middle East on the offshore energy sector has so far received less attention than…
Conflict between Iran, the United States, Israel and allies throughout the Gulf region has had an immediate effect on the oil and gas industry, both upstream and downstream. Drone and missile attacks have damaged refineries and as of mid-April 2026…
The Arab Shipbuilding and Repair Yard Company (ASRY) has completed several rig repair and upgrade projects for Saudi-based ADES Holding, strengthening the partnership between the two companies.In 2025, several ADES jack-up rigs underwent major works at ASRY’s facilities in Bahrain…
ADES Holding has secured a two-year contract through its subsidiary Shelf Drilling for the Compact Driller standard jack-up with Brunei Shell Petroleum, a joint venture between the Brunei government and Shell.The Compact Driller deal mars ADES…
While challenges linger from the 2025 offshore rig market, there are signs it will look brighter from late 2026 onwards.Main Events of 2025One of the biggest talking points of 2024 and 2025 was Saudi Aramco’s suspension of 36 jackups from April 2024…
The offshore division of Arab Shipbuilding and Repair Yard (ASRY) in Bahrain is on track to deliver its 200th project milestone in the first quarter of 2026. It will be a landmark achievement for ASRY since its Offshore Division was established…
Saudi Arabian oil and gas drilling contractor ADES International Holding has completed the acquisition of rival rig firm Shelf Drilling.The merger, concluded on November 2025, has created a global offshore drilling powerhouse, with the combined…
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