ADES Holding Company is a Saudi Arabian holding company that provides offshore and onshore drilling and production services to the oil and gas industry.
Headquartered in Al Khobar and founded in 2002, it operates a fleet of approximately 90 rigs, primarily jack-up units, across countries including Saudi Arabia, Egypt, Algeria, Tunisia, Kuwait, Qatar, India, Indonesia, and Thailand.
Through its subsidiary ADES Saudi Limited Company, it signed a binding agreement in 2026 to acquire Saudi Arabian Saipem Limited, including five jack-up rigs, for USD 285 million on a debt-free, cash-free basis, subject to regulatory approvals and expected to close in the third quarter of 2026.
Also known as ADES Group and Ades Holding Co..
Deal covers five jack-up rigs; SAS posted 2025 revenues of SAR 636m (USD 170m). Buyer will bareboat-charter one rig back; closing targeted by Q3 2026 subject to approvals.
