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ADES International Holding PLC

Ades CEO breaks game-changing new Arabian Gulf rig news

Dr. Mohamed Farouk, CEO of Ades International Holding (LON:ADES) tells Proactive why the latest PSA for 3 operational off shore jack up rigs in the Arabian Gulf is significant for the company and how far progressed the new deal is.
Ades is an oil/gas drilling and production services provider in the Middle East and Africa offering offshore and onshore contract drilling as well as workover and mobile offshore production unit services. From its base in Egypt, Ades sees it's growth strategy and performance going forward as serving Tier One clients and using the very latest innovative drilling technology to enhance both worker safety and shareholder satisfaction.

Quick facts: ADES International Holding PLC

Price: $12.80

Market: LSE
Market Cap: $560.56 m
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ADES International thriving in tough times

Dr Mohamed Farouk, chief executive of ADES International PLC (LON:ADES) outlines to Proactive the Egypt-based driller's strategy and plans for growth. “We buy unwanted or legacy oil rigs, refurbish and use them to become the lowest price drilling contractor in the Middle East market while...

on 19/9/17

2 min read