Mohamed Farouk, CEO atADES Holding Co.
Mohamed Farouk, CEO atADES Holding Co., said fewer than 10 of the group’s offshore rigs in the GCC were recently suspended due to regional tensions, describing the impact as short-term based on current visibility.
He told Argaam ADES remains focused on safeguarding personnel and assets, while maintaining close coordination with clients and stakeholders to ensure operational readiness.
Farouk said the group’s fleet —123 rigs across 20 countries—and business model help cushion short-term disruptions.
On financial performance, the CEO said Q4 2025 revenue rose 26% year-on-year (YoY), driven by offshore expansion, disciplined implementation of the growth strategy, and deployment of rigs across existing and new markets.
Growth was further aided by the integration of Shelf Drilling, strengthening ADES’ position in core markets and enabling entry into Angola, Italy, Norway, the UK, the Netherlands, and Vietnam.
Mohamed Farouk, CEO atADES Holding Co.
Mohamed Farouk, CEO atADES Holding Co., said fewer than 10 of the group’s offshore rigs in the GCC were recently suspended due to regional tensions, describing the impact as short-term based on current visibility.
He told Argaam ADES remains focused on safeguarding personnel and assets, while maintaining close coordination with clients and stakeholders to ensure operational readiness.
Farouk said the group’s fleet —123 rigs across 20 countries—and business model help cushion short-term disruptions.
On financial performance, the CEO said Q4 2025 revenue rose 26% year-on-year (YoY), driven by offshore expansion, disciplined implementation of the growth strategy, and deployment of rigs across existing and new markets.
Growth was further aided by the integration of Shelf Drilling, strengthening ADES’ position in core markets and enabling entry into Angola, Italy, Norway, the UK, the Netherlands, and Vietnam.
