ADES Saudi Limited Company is a Saudi Arabian subsidiary of ADES Holding Company, a provider of offshore and onshore oil and gas drilling services. Headquartered in Al Khobar, Saudi Arabia, the parent group operates a fleet of jack-up and land rigs primarily in shallow-water and non-harsh environments across multiple countries including Saudi Arabia, Kuwait, Egypt and others.
In June 2026, ADES Saudi Limited Company signed a binding agreement to acquire Saudi Arabian Saipem Limited and its five jack-up rigs for USD 285 million on a debt-free, cash-free basis. Completion is targeted for the third quarter of 2026, pending regulatory approvals.
Also known as ADES Saudi Company Limited.
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.
