ADES completes acquisition of five Saipem jackups in Saudi Arabia

Saipem completed the sale of its entire shareholding in Saudi Arabian Saipem to ADES. The transaction, announced 24 June 2026, closed after Saipem obtained all applicable regulatory approvals and satisfied customary conditions precedent.

Saudi Arabian Saipem operates in the shallow-water offshore drilling segment and owns three jackup rigs, the Perro Negro 7, Perro Negro 8 and Perro Negro 10, along with two leased jackups, the Perro Negro 11 and Perro Negro 13.

Saipem and ADES also entered into a bareboat charter agreement allowing Saipem to continue using the Perro Negro 10 jackup in its ongoing operations in Mexico.