Energy & Petrochemicals #acquisition#drilling
ADES Deepens Saudi Presence with $285M Acquisition of Saipem’s Drilling Subsidiary
ADES has agreed to acquire Saipem's Saudi Arabian subsidiary for $285 million, adding five premium jackup rigs. The deal strengthens ADES' position in Saudi Arabia and marks its entry into Mexico, increasing its fleet to 88 offshore units and adding approximately $1 billion to its backlog.
Jun 24, 2026 1 source
