THE MIDDLE EAST’S
74. ADES Holding
Country: Saudi Arabia
Sector: Energy
Vice Chairman & CEO: Mohamed Farouk
Market Value: $5.79 billion
ADES provides oil and gas drilling services across 19 countries, operating a fleet of 123 offshore and onshore rigs as of November 2025. ADES acquired Shelf Drilling for $379 million, lifting its combined backlog to more than $9.1 billion and expanding operations across the GCC, Southeast Asia, and West Africa. As of September 2025, total assets stood at $6 billion, with revenue of $1.3 billion in the first nine months of 2025.