Go-ahead for ADES to restart all suspended offshore rig ops as jack-up market remains tight

August 17, 2026, by Melisa Cavcic

ADES Holding Company, an oil and gas drilling services provider that is part of Saudi Arabia-headquartered ADES Group, has secured the green light to restore all temporarily suspended offshore rig operations in Saudi Arabia, as offshore activity across the Gulf Cooperation Council (GCC) region continues to recover.

As a result of the conflict in the Middle East, some of ADES’ offshore rigs in the GCC region received temporary suspensions in March 2026 due to regional tensions. The company has now obtained resumption notices for all of its temporarily suspended offshore rigs in Saudi Arabia.

The resumption is perceived to reflect the sustained strength of offshore market fundamentals, with contracted jack-up utilization already holding around 90% and day rates remaining firm in a structurally tight market.

The firm claims this restart is consistent with its view that the temporary suspensions of a number of its offshore rigs in the GCC region were event-driven rather than demand-driven and short-term in nature.

Dr. Mohamed Farouk, CEO of ADES Holding, commented: “We are pleased with the swift resumption all of our temporarily suspended offshore rigs in Saudi Arabia, which comes in addition to our rigs in Qatar that have already resumed and are back in full operation.

“This timely return across the region reflects both the encouraging easing of the regional situation and the unwavering commitment of our teams to the highest standards of safety and operational readiness, values that have always defined how ADES operates.

“The safety of our personnel and assets remains, and will always remain, our highest priority, and it is precisely this discipline that has enabled us to preserve the integrity of our operations throughout this period and to be in a position to resume activity so quickly once conditions allowed.”

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ADES’ rigs in Qatar have already resumed their activities and are back in full operation, further reinforcing the trajectory of what is seen as a steady, broad-based return to activity across the GCC.

Farouk added: “We are reiterating our FY2026 EBITDA guidance range of SAR 4.50–4.87 billion, underpinned by the scale and diversification of our 123-rig platform, the continued conversion of Shelf Drilling synergies, and supportive momentum across our international markets — reinforcing its position as a Saudi national champion with a global footprint and a trusted partner to leading national and international oil companies.”

The all-clear to resume all rig activities in Saudi Arabia comes less than two months after ADES struck a deal with Saipem to acquire Saudi Arabian Saipem (SAS), enlarging its jack-up fleet.