ADES Holding Company, the owner of the Adam Marine 12 barge that sank while transporting Egyptian workers to the Gebel El-Zeit area in the Gulf of Suez, unveiled compensation for the families of the deceased, missing, and injured, Minister of Labor Mohamed Gebran stated.

Minister of Petroleum and Mineral Resources Karim Badawi met with Mohamed Farouk, CEO of ADES Holding to discuss the firm's operations in drilling exploratory and production wells in the Abu Redis concession under the SUCO field and the Gulf of Suez concession under the General Petroleum Co (GPC),

The Saudi drilling services provider ADES Holding Company has inked a jack-up rig contract worth SAR 185 million with Egypt’s Suez Oil Company (SUCO) to oversee offshore drilling operations in Egypt.

The Saudi drilling services provider ADES Holding Company is planning to complete the drilling of six production wells within the second half (H2) of 2024 at an oilfield affiliated to Egypt’s General Petroleum Company (GPC) in the Gulf of Suez’s Ras Ghareb region.

The Saudi natural gas drilling and production services provider ADES Holding has been granted extension for three of its offshore jack-up rigs operating in Egypt.

The Egyptian General Petroleum Corporation (EGPC) has awarded the Saudi ADES Holding Company a service contract agreement to operate and boost the production capacity of the oil brownfields of OSOCO and SOCO oil firms in Egypt.

EFG Holding has wrapped up advisory on the landmark SAR 4.572 billion initial public offering (IPO) of ADES Holding on the Saudi Exchange (Tadawul).

EFG Hermes Saudi Arabia, the subsidiary of the Egyptian investment bank EFG Holding, has been appointed as one of the financial advisors on ADES’ anticipated initial public offering (IPO) on the Saudi Exchange (Tadawul).