ADES to form JV with Vantage Drilling to offer deepwater drilling services

LSE-listed oil and gas services firm ADES is forming a joint venture with a subsidiary of Vantage Drilling International to provide deepwater drilling services in Egypt’s Mediterranean basin, World Oil reports. “The JV will operate Vantage’s deepwater drilling units in Egyptian waters on a bareboat charter agreement basis and discussions are underway with regional operators as the JV aims to capture opportunities amid significant discoveries and prospective drilling programs in Egypt’s Mediterranean basin.” ADES will be granted exclusive marketing rights within Egypt.