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ADES Completes Acquisition of Saipem's Saudi Shallow-Water Drilling Operations

By MGN EditorialSeptember 15, 2026 at 11:43 AM

Saudi driller ADES has finalised its purchase of Saipem's Saudi Arabian shallow-water drilling business, consolidating its position as a leading offshore drilling contractor in the region.

## ADES Closes Saipem Saudi Drilling Deal Saudi Arabia-based oil and gas driller ADES has completed its acquisition of Saipem's Saudi shallow-water drilling business, marking a significant consolidation move in the Middle East offshore drilling sector, according to Splash247. The transaction, which was first announced in late June, saw ADES's indirectly owned subsidiary, ADES Saudi Limited, acquire Saudi Arabian Saipem Limited. The deal underscores the ongoing trend of regional operators absorbing assets from larger international drilling contractors as the latter streamline their global portfolios. ### Strategic Significance The acquisition strengthens ADES's foothold in Saudi Arabia's shallow-water drilling market, a segment that remains strategically vital to Saudi Aramco's upstream production ambitions. By absorbing Saipem's established Saudi operations, ADES gains additional rig capacity, local contracts, and operational infrastructure that would otherwise take years to build organically. For Saipem, the divestiture aligns with the Italian contractor's broader strategy to rationalise its asset base and focus capital on higher-margin or strategically prioritised markets. The Italian firm has been actively reshaping its portfolio in recent years following a period of financial restructuring. ### Regional Context Saudi Arabia continues to represent one of the most active shallow-water drilling markets globally, with Saudi Aramco maintaining ambitious production and reserve development targets. Regional contractors such as ADES are increasingly well-positioned to compete for this work, benefiting from proximity, local content requirements, and established relationships with the national oil company. The completion of this deal is expected to enhance ADES's revenue base and operational scale, positioning the company as one of the dominant shallow-water drilling contractors operating in the Arabian Gulf. Financial terms of the transaction were not fully disclosed in available reports, though the deal was described as a total purchase consideration arrangement structured through ADES's subsidiary vehicle. *Source: Splash247*
#offshore drilling#ADES#Saipem#Saudi Arabia#shallow-water drilling#mergers and acquisitions#Arabian Gulf#upstream oil and gas

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