ADES wraps up purchase of Saipem’s Saudi drilling business

Saudi oil and gas driller ADES has completed its acquisition of Saipem’s Saudi shallow-water drilling business. The two entered into the transaction in late June. Under the deal, ADES’s indirectly owned subsidiary, ADES Saudi Limited, acquired Saudi Arabian Saipem Limited for a total purchase consideration of $285m. Saudi Arabian Saipem Limited owns a fleet of … Read full article →