Mohamed Abdul Khaleq, CEO of ADES Holding Co.
The company aims to generate approximately 50% of its revenues from Saudi Arabia, 20% from GCC countries, and 30% from the rest of the world by 2025, which is in line with its global expansion and diversification strategy, he said. 
ADES’ market share in the Southeast Asia region rose to 12% of the total offshore rigs and platforms. This included five rigs, excluding three operating in India.
Abdul Khaleq stated that the company’s strategy is to expand its presence in Southeast Asia and West Africa, driven by their significant activity in oil exploration.
“ADES boasts a fleet of 51 offshore rigs, the largest globally,” declared the CEO. He emphasized the company’s resilience by highlighting that nine out of 31 rigs suspended for eight drilling companies in the Kingdom successfully secured work elsewhere. Notably, ADES operated four of these nine rigs within a year, showcasing its impressive flexibility and robust business model in less than a year.
The offshore drilling platform recently awarded a contract to operate in Thailand is not a new acquisition,” the CEO revealed. “It’s actually one of the rigs previously decommissioned by Aramco.”
The CEO pointed out that the company’s contract backlog exceeded SAR 28 billion in 2024.
Based on market expectations, ADES expected to utilize a total of SAR 6.7 billion as income during 2025, looking ahead to surpass SAR 28 billion of contracts by the end of next year.
ADES CEO Abdul Khaleq announced that the company targets to maintain its 60% dividend payout ratio in the second half of 2024, mirroring the distribution level achieved in the first half. With a robust market outlook, ADES expects stronger profits in the latter half of the year compared to the first, promising attractive returns for shareholders.
Mohamed Abdul Khaleq, CEO of ADES Holding Co.
The company aims to generate approximately 50% of its revenues from Saudi Arabia, 20% from GCC countries, and 30% from the rest of the world by 2025, which is in line with its global expansion and diversification strategy, he said.
ADES’ market share in the Southeast Asia region rose to 12% of the total offshore rigs and platforms. This included five rigs, excluding three operating in India.
Abdul Khaleq stated that the company’s strategy is to expand its presence in Southeast Asia and West Africa, driven by their significant activity in oil exploration.
“ADES boasts a fleet of 51 offshore rigs, the largest globally,” declared the CEO. He emphasized the company’s resilience by highlighting that nine out of 31 rigs suspended for eight drilling companies in the Kingdom successfully secured work elsewhere. Notably, ADES operated four of these nine rigs within a year, showcasing its impressive flexibility and robust business model in less than a year.
The offshore drilling platform recently awarded a contract to operate in Thailand is not a new acquisition,” the CEO revealed. “It’s actually one of the rigs previously decommissioned by Aramco.”
The CEO pointed out that the company’s contract backlog exceeded SAR 28 billion in 2024.
Based on market expectations, ADES expected to utilize a total of SAR 6.7 billion as income during 2025, looking ahead to surpass SAR 28 billion of contracts by the end of next year.
ADES CEO Abdul Khaleq announced that the company targets to maintain its 60% dividend payout ratio in the second half of 2024, mirroring the distribution level achieved in the first half. With a robust market outlook, ADES expects stronger profits in the latter half of the year compared to the first, promising attractive returns for shareholders.
