ADES International Holding

What ADES International Holding does

ADES Holding Company, formerly ADES International Holding, is a Saudi Arabia-headquartered oil and gas drilling contractor that operates one of the world's largest jackup rig fleets alongside a substantial land rig fleet. Founded in 2003, the company went public on the Saudi Exchange (Tadawul: 2382) in October 2023, with its principal shareholders being ADES Investments Holding, the Saudi Public Investment Fund (PIF), and Zamil Investment. The company provides offshore and onshore contract drilling services to national oil companies (NOCs) and international oil companies (IOCs) using a fleet of approximately 90 drilling units (50 jackup rigs and 40 land rigs) across 13 countries, expanding to 123 rigs in 19-20 countries following the November 2025 Shelf Drilling merger and the pending Q3 2026 acquisition of Saudi Arabian Saipem Ltd. Its technology stack centers on dayrate-based contract execution with high asset utilization (98.6%), supported by an AI-based on-site safety and efficiency tool ('Rig Eye') and emissions-reduction initiatives targeting 6% reduction by 2030.

ADES generates revenue primarily through multi-year dayrate-based drilling contracts with major NOCs, including Saudi Aramco (33 jackup rigs representing 38% of the Saudi market), WAEP/Dangote Group ($729M Nigeria contract), and Petrobras ($85.1M Brazil charter). Backlog stood at SAR 29.72 billion as of 30 June 2025, providing significant revenue visibility. The company reported FY2024 revenue of SAR 6.19 billion (~$1.65 billion) growing 7.9% in FY2025, with 49% EBITDA margins and disciplined 'buy to contract' acquisition strategy targeting 5-7 year payback periods. Capital structure includes a $3 billion syndicated credit facility secured in July 2024, supporting both organic fleet expansion and the recent M&A program.

Name

ADES International Holding

Legal name

ADES Holding Company

Website

https://adesgroup.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

ADES Holding Company is a Saudi Arabia-headquartered global drilling contractor operating one of the world's largest jackup rig fleets, providing offshore and onshore contract drilling services to national and international oil companies across the MENA region, Africa, Asia, and Latin America.

Ownership category

akta.pro rank

Product category

Offshore and Onshore Contract Drilling Services

NAICS

Drilling Oil and Gas Wells (213111), Support Activities for Oil and Gas Operations (213112)

SIC

Drilling Oil & Gas Wells (1381), Oil & Gas Field Services, Nec (1389)

akta.pro primary industry

Drilling & Workover Rigs (Land & Offshore) (EUALABAA)

akta.pro secondary industry

OFS Engineering, Construction & O&M (Field Development, Brownfield, Maintenance) (EUALABAM)

Keywords

• Offshore drilling services
• Onshore drilling services
• Jackup rig operations
• Contract drilling
• Oil and gas services

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Contract Drilling Services: ADES generates revenue primarily through dayrate-based contracts for offshore and onshore drilling services. Contracts are typically multi-year agreements with major NOCs and international oil companies, providing predictable cash flows backed by a substantial backlog. The company operates 50 jackup rigs and 40 land rigs across multiple countries.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

ADES International Holding provides offshore and onshore contract drilling services to the oil and gas industry. The company operates a fleet of 50 jackup rigs and 40 land rigs across 13 countries, delivering drilling, completion, and workover services to national oil companies (NOCs) and international oil companies (IOCs) under multi-year dayrate-based contracts.

Product overview

ADES International Holding is a leading global offshore and onshore drilling contractor headquartered in Saudi Arabia. The company operates a diversified fleet of approximately 90+ drilling units spanning 13 countries, including jackup rigs (Admarine series), land rigs, liftboats, and mobile offshore production units. ADES's core offering centers on providing drilling services to national oil companies and international energy producers, with jackup rig operations being its primary business segment. The company has grown significantly through acquisitions, including the Shelf Drilling merger (2025) and Saudi Arabian Saipem acquisition (2026), expanding its fleet to become one of the world's largest jackup drilling operators. Operations are supported by regional offices across the Middle East, Africa, and Asia.

Differentiator

Problem solved

Functional benefit

Products and services

• Jackup Rig Services ADES operates a fleet of jackup drilling rigs for offshore oil and gas exploration and production operations, serving major national oil companies including Saudi Aramco. The company is the world's #1 provider of jackup rigs to the oil and gas industry.
• Land Rig Services Onshore drilling services using land-based rigs for oil and gas well drilling, completion, and workover operations across multiple countries in the Middle East, North Africa, and India.
• Jackup Rig Charter Services ADES charters its jackup rigs to international oil and gas companies, including the $85.1 million charter agreement with Constellation Oil Services Holding for Petrobras operations in Brazil.

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Valiant OffshoreminorStrategic or Co-development Partner · 31 March 2026Local partner providing manpower and logistics support for ADES operations in Nigeria. Supports the company's West Africa expansion strategy by providing in-country operational capabilities for jackup drilling contracts.
• West African Exploration & Production (WAEP)coreStrategic or Co-development PartnerSubsidiary of Dangote Group awarded ADES a $729 million contract for three premium jackup drilling units to support offshore field development in Nigeria. Operations to begin H2 2026 with firm three-year term and option to extend.
• Constellation Oil Services HoldingminorChannel Partner/ Reseller/ DistributorLuxembourg-based charter company through which ADES deployed jackup rig Admarine 511 to support drilling operations for Petrobras in Brazil. Approximately $85.1 million charter agreement for 38 months.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Borr Drilling: Pure-play global jackup rig operator headquartered in Bermuda, focused on shallow-water drilling in international markets. Closest pure-play competitor to ADES's offshore jackup segment and a key consolidator in the same fleet class.
• Valaris Limited: Major offshore drilling contractor with significant jackup rig fleet and a JV with Saudi Aramco (ARO Drilling). Direct competitor in the jackup segment and a strategic counterparty for Aramoc contracts that ADES also targets.
• Arabian Drilling Company: Saudi Arabia-based onshore and offshore drilling contractor directly competing with ADES for Saudi Aramco work. Closest regional peer and a competing national champion in the Kingdom's drilling services market.
• Precision Drilling: Largest North American land drilling contractor with growing international presence. Directly comparable to ADES's 40 land rigs in operational model, though ADES is more focused on MENA/Asia markets.

Broad incumbents

• Noble Corporation: Large offshore drilling contractor with diversified fleet spanning jackups, semisubmersibles, and drillships. Competes with ADES in jackup tenders while also serving deepwater markets ADES does not address.
• Transocean: Largest offshore drilling contractor globally, focused primarily on ultra-deepwater floaters rather than jackups. Multiple ADES senior managers previously held positions at Transocean, indicating labor market overlap and operational familiarity.
• Seadrill: Offshore drilling contractor with jackup and semisubmersible fleet, recently emerged from restructuring. Competes for international jackup tenders and serves similar IOC and NOC customer base.
• Weatherford International: Major oilfield services company providing drilling-related services, equipment, and drilling project management. Overlaps with ADES in drilling operations support and shares talent pool (ADES HR officer previously at Weatherford).

Others

• Schlumberger (SLB): World's largest oilfield services company. While not a direct drilling contractor, several ADES senior executives (CEO, VPs, directors) held senior Schlumberger positions, and the company is a key supplier/ecosystem partner across ADES drilling operations.

Emerging players

• Constellation Oil Services Holding: Luxembourg-based charter company through which ADES deployed rig Admarine 511 to Petrobras. A peer in offshore rig chartering services and emerging intermediary in the international jackup market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/ADESDrilling
• YouTubeyoutube.com/@ADESDrilling
• Facebookfacebook.com/ADESDrilling
• LinkedInlinkedin.com/company/advanced-energy-systems-ades-
• Instagraminstagram.com/adesdrilling

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ADES International Holding