24 Hrs
Source:
الاقتصادية
Ades Marine Platforms in Saudi Resumes Operations and Shares Rise 4%
Ades Holding Company has resumed all of its offshore drilling platforms in Saudi Arabia after a temporary suspension in March, with platform utilization rates exceeding 90%. This move comes amid a market suffering from a structural shortage of drilling rigs, despite the company's profits declining by 32% in the second quarter of 2026 due to regional conflicts. The announcement showed an increase of more than 4% in the company's stock on the Saudi market, with confirmation of strong demand and ongoing business growth. The company also assured that its operations remain stable following the full resumption of its offshore platforms in the region.
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