Saipem hands Saudi jack-up fleet to ADES in strategic shallow-water exit

Italy’s engineering, drilling, and construction services company Saipem has divested its shallow-water drilling business in Saudi Arabia to ADES Saudi Limited Company, an indirect subsidiary of Saudi Arabia-headquartered ADES Holding Company, which has now added about SAR 3.7 billion ($987 million) in backlog and five premium jack-up rigs that increase its global fleet to 128 units, while expanding its offshore footprint into Mexico and strengthening its position in the Saudi market. The post Saipem hands Saudi jack-up fleet to ADES in strategic shallow-water exit appeared first on Offshore Energy.