Egyptian Giant ADES Conquers Offshore Market with $285M Deal
ADES Holding Company, Egypt's foremost drilling champion, has decisively expanded its regional empire. Through its indirectly owned subsidiary, ADES Saudi Limited Company, the Egyptian giant signed a sale and purchase agreement on June 24, 2026, to acquire Saudi Arabian Saipem Limited for a total consideration of $285 million. This monumental move secures five operational premium jackup rigs and