One more driller restores Saudi offshore fleet as Middle East activity rebounds

AI Summary

Saudi oil and gas driller ADES resumed operations for its offshore rigs following Arabian Drilling's lead, reflecting a strong recovery in Middle East offshore market fundamentals. Jackup utilization rates remain high with day rates steady.

Following Arabian Drilling, Saudi oil and gas driller ADES has also received resumption notices for all its suspended offshore rigs in Saudi Arabia. The company said that the resumption reflects the sustained strength of offshore market fundamentals, with contracted jackup utilisation already holding around 90% and day rates remaining firm. The resumption of activities in …