Saipem to Sell Saudi Shallow-Water Drilling Business to ADES for $285M

AI Summary

Italian energy company Saipem has entered a binding agreement to sell its shallow-water drilling business in Saudi Arabia to ADES Saudi Limited Company for $285 million. The deal highlights continued investments and shifts in the Middle Eastern energy services sector.

Italian energy services company Saipem has signed a binding agreement to sell its shallow-water drilling business in Saudi Arabia to ADES Saudi Limited Company for $285 million…