Latest news with #ADESHolding
Egypt Independent
04-07-2025
- General
- Egypt Independent
Search continues for 3 missing as Red Sea drilling rig disaster enters third day
Search and rescue efforts by specialized authorities and GUPCO teams continued for a third consecutive day in the waters of the Gulf of Suez, looking for three missing individuals from the Admarine 12 marine drilling rig. The rig capsized during towing to a new site north of the Red Sea, and despite 72 hours of intense searching, no survivors have been found. Amr Hanafy, Governor of the Red Sea, confirmed that the rig was in transit when the accident occurred in a vast and complex marine area. He noted the incident unfolded in just a few minutes, making it difficult for those on board to react or evacuate in time. Hanafy explained that specialized technical authorities are conducting an extensive investigation to determine the true causes of the accident, confirming that a dedicated committee has already begun its work and all relevant agencies continue to support the ongoing rescue and search operations. Survivors recount moments of terror During investigations, survivors recounted the terrifying moments they experienced, stating they were shocked by the rig's sudden sinking. 'We didn't expect to sink. Suddenly, the rig started to tilt, then capsize,' one survivor said. 'We found ourselves in the water within moments and held onto each other until GUPCO's rescue units arrived and pulled us from the sea.' Another added, 'We were on our way to work on a marine platform north of the Red Sea, and everything was normal until the accident happened suddenly.' Survivors mentioned that rescue units transferred them to nearby marine vessels and then to the port, where ambulances took them to hospitals for necessary treatment. They praised the quick response and professionalism of the rescue teams. Victim identification and ongoing search The Red Sea Prosecution, under the supervision of Chief Public Prosecutor Ahmed Abdel Mohsen, authorized the burial of four victims whose bodies were recovered from the accident site. This authorization came after the bodies were examined and handed over to their families for burial. The Admarine 12 marine drilling rig, owned by ADES Holding, had 30 individuals on board at the time of the accident. So far, 22 have been rescued, and four deaths have been confirmed, with search operations still ongoing for the remaining missing.
Free Malaysia Today
03-07-2025
- General
- Free Malaysia Today
4 dead after vessel capsizes in Suez Gulf, 3 still missing
The incident occurred around 130 nautical miles from the southern entrance of the Suez Canal. (EPA Images pic) CAIRO : At least four people died when a vessel capsized while being towed in the Gulf of Suez, one of Egypt's prominent Red Sea oil production sites, the vessel operator's Saudi Arabian owner, ADES Holding Company, said today. The incident occurred around 130 nautical miles from the southern entrance of the Suez Canal and has not disrupted navigation along the trade route, the Suez Canal authority chairman Osama Rabie said in a statement. Egypt's petroleum ministry yesterday said oil and gas producer Offshore Shukheir Oil Co (Osoco) reported the incident as occurring near Egypt's Gabal El-Zeit area along the Red Sea. The vessel is a jackup barge unit named Admarine 12 owned by a subsidiary of offshore drilling service provider ADES. It was carrying 30 personnel, 23 of whom were rescued, ADES said in disclosure to the Saudi Exchange. The petroleum ministry earlier misidentified the vessel as Adam Marine 12. Three ADES personnel and one contractor were killed, and rescuers are searching for the remaining three, ADES said. The vessel was operating in a concession where ADES and Osoco have partnered to drill wells. The vessel and personnel are comprehensively insured and at this stage there is no material impact on finances or guidance for the fiscal year 2025, ADES said. 'The company is working closely with local authorities and emergency services, with the safety and well-being of all personnel remaining its highest priority. A full and thorough investigation into the incident will be conducted,' ADES said.
Egypt Independent
02-07-2025
- Business
- Egypt Independent
Photos: Exclusive photos document Red Sea drilling rig disaster, four dead, several still missing
Al-Masry Al-Youm has obtained exclusive photos documenting the moment a marine drilling rig, owned by ADES Holding, capsized on Tuesday evening. The incident occurred while the rig was being towed to a new work site in Egypt's territorial waters, north of the Red Sea Governorate. The images, published by Al-Masry Al-Youm for the first time, show the Admarine 12 rig just before it completely vanished into the seabed. Initial reports indicate that 30 individuals were on board the rig, including 18 employees from ADES Holding, with the remainder being part of the towing crew and technicians. Rescue operations successfully saved 23 people, who were transported to nearby hospitals for necessary medical care. Four deaths have been confirmed, and the search continues for several missing individuals. While the causes of the rig's capsizing are still under investigation, technical sources suggest the rig was being towed from its previous location to a new operational site when it sank under as-of-yet-undetermined conditions. Minister of Petroleum and Mineral Resources, Karim Badawi, and Minister of Labor, Mohamed Gebran, extended their condolences to the families of the victims. Both ministers closely monitored the accident's developments and visited the injured survivors in hospitals to check on their conditions. Medical authorities have since authorized the discharge of 14 injured individuals whose conditions have stabilized and improved. Sources within ADES Holding confirmed that the company has formed an urgent technical committee to investigate the accident's causes and assess damages. The General Petroleum Authority and marine insurance companies have also been notified to handle the aftermath of the incident. Edited translation from Al-Masry Al-Youm
Yahoo
02-07-2025
- Business
- Yahoo
Four die as vessel capsizes in Suez Gulf; three still missing
CAIRO (Reuters) -At least four people died when a vessel capsized while being towed in the Gulf of Suez, one of Egypt's prominent Red Sea oil production sites, the vessel operator's Saudi Arabian owner, ADES Holding Company, said on Wednesday. The incident occurred around 130 nautical miles from the southern entrance of the Suez Canal and has not disrupted navigation along the trade route, the Suez Canal Authority Chairman Osama Rabie said in a statement. Egypt's petroleum ministry on Tuesday said oil and gas producer Offshore Shukheir Oil Co (OSOCO) reported the incident as occurring near Egypt's Gabal El-Zeit area along the Red Sea. The vessel is a jackup barge unit named Admarine 12 owned by a subsidiary of offshore drilling service provider ADES. It was carrying 30 personnel, 23 of whom were rescued, ADES said in disclosure to the Saudi Exchange. The petroleum ministry earlier misidentified the vessel as Adam Marine 12. Three ADES personnel and one contractor were killed, and rescuers are searching for the remaining three, ADES said. The vessel was operating in a concession where ADES and OSOCO have partnered to drill wells. The vessel and personnel are comprehensively insured and at this stage there is no material impact on finances or guidance for the fiscal year 2025, ADES said. "The company is working closely with local authorities and emergency services, with the safety and well-being of all personnel remaining its highest priority. A full and thorough investigation into the incident will be conducted," ADES said.
Zawya
02-06-2025
- Business
- Zawya
Saudi: ADES Holding expands West African footprint via $34.4mln contract award
Riyadh – ADES Holding Company has been awarded a SAR 128.90 million contract for the use of Admarine 510 in Cameroon, marking the Saudi group's entry into its 13th country of operations. The one-year deal also aligns with the company's expansion across the high-potential West African market, according to a press release. The contract has been awarded by Addax Petroleum, a subsidiary of Sinopec Group. It is expected to commence in the fourth quarter (Q4) of 2025. The contract covers a firm twelve-month drilling campaign, with two optional extensions of six months each, for a total potential duration of up to 24 months. Mohamed Farouk, CEO of ADES Holding, said: 'This award reflects the growing trust in ADES as a leading provider of offshore drilling services in the region, and we are particularly pleased to be working directly with Addax Petroleum, a reputable operator affiliated with a major national oil company.' 'The award of this long-term contract reinforces our ability to respond quickly to new opportunities and sustain fleet deployment across our core markets,' Farouk added. He noted: 'By building on our recent successes in Nigeria and now expanding into Cameroon, we are building the right critical mass for optimized operations as we reinforce our long-term commitment to West Africa aiming to deliver high-quality, efficient, and safe drilling services to our clients.' Last April, ADES Holding extended three of its offshore jackup rigs operating in Egypt, with a total estimated backlog value of SAR 673.50 million ($179.60 million).
