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ADES International Holding PLC

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Market:
LSE
Market Cap:
$569.32 m
Price
13.00 USD
Change
0.00%
52 weeks high
15.00
52 weeks low
11.90

In brief

ADES International Holding extends oil and gas drilling and production services through its subsidiaries and is a leading service provider in the Middle East and Africa, offering onshore contract drilling as well as workover and production services. Its over 1,600 employees serve clients including major national oil companies (“NOCs”) such as Saudi Aramco and Sonatrach as well as joint ventures of NOCs with global majors including BP and Eni. While maintaining a superior health, safety and environmental record, the Group currently has a fleet of thirteen jack-up offshore drilling rigs, three onshore drilling rigs, a jack-up barge, and a mobile offshore production unit (“MOPU”), which includes a floating storage and offloading unit. From its base in Egypt, ADES International Holding leverages its low-cost structure and highly skilled workforce to consistently set the benchmark for high quality and efficient services. ADES International Holding also signed a definitive agreement with Weatherford International plc for the acquisition of 31 onshore drilling rigs in July 2018, which is expected to conclude before year-end.

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Snapshot

  • Middle East onshore and offshore drill rig contractor

  • Traditional skillset onshore and shallow water operations 

  • Two deepwater contracts picked up this year though Vantage JV