Saudi oil and gas driller ADES has temporarily suspended operations on several of its offshore rigs in the GCC due to ongoing regional tensions. According to a statement made by the company, these suspensions will be short-term in nature. ADES stated that it is firmly committed to the safety of its personnel and assets, which remains its highest priority, while working closely with clients and relevant stakeholders to monitor developments and ensure operational readiness. The driller stated that its scale and geographic diversification, with 123 rigs deployed across 20 countries, allow it to withstand such short-term disruptions. “In light of the current regional situation, the safety of our personnel and assets remains our highest priority. Our extended number of assets, geographic diversification and broader earnings base position us to navigate such developments with discipline while maintaining confidence in our forward outlook,” said Mohamed Farouk, CEO of ADES. He added that the company has previously demonstrated resilience across different cycles and remains confident in its ability to navigate the current environment. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsSaudi Arabia