Mohamed Abdul Khaleq, CEO ofADES Holding Co.
Mohamed Abdul Khaleq, CEO ofADES Holding Co.said that the offshore drilling market is expected to witness a notable increase in demand in the coming period, with global rig utilization already exceeding 90%, even before Saudi rigs return to service. 
Speaking to Argaam, the CEO explained that the expected supply shortage will create favorable pricing conditions, with day rates likely to rise once Saudi rigs resume operations in 2026. He added that ADES’s strategic position enables it to capitalize on this upcycle, which will positively impact the company’s 2026 revenue.
The Admarine 501 rig will begin operations under the Cameroon contract once its current six-month term in Nigeria concludes, providing visibility for up to two years. Both Admarine 501 and Admarine 510 are already under contract, he added, noting that the resumption of these rigs further strengthens the company’s overall outlook for the coming period.
Mohamed Abdul Khaleq, CEO ofADES Holding Co.
Mohamed Abdul Khaleq, CEO ofADES Holding Co.said that the offshore drilling market is expected to witness a notable increase in demand in the coming period, with global rig utilization already exceeding 90%, even before Saudi rigs return to service.
Speaking to Argaam, the CEO explained that the expected supply shortage will create favorable pricing conditions, with day rates likely to rise once Saudi rigs resume operations in 2026. He added that ADES’s strategic position enables it to capitalize on this upcycle, which will positively impact the company’s 2026 revenue.
The Admarine 501 rig will begin operations under the Cameroon contract once its current six-month term in Nigeria concludes, providing visibility for up to two years. Both Admarine 501 and Admarine 510 are already under contract, he added, noting that the resumption of these rigs further strengthens the company’s overall outlook for the coming period.
