Jackup vessel capsizes in Gulf of Suez

Four people are known to have lost their lives when a jackup barge vessel operated by a subsidiary of offshore drilling service provider ADES Holding Company capsized as it was being towed to a new location in the Gulf of Suez

23 of the 30 personnel on board have been rescued, while search and rescue operations for the missing continue. The cause of the incident is not yet publicly known.

The barge was offshore the Gabal El Zeit area in the southern stretch of the Gulf of Suez, south of the Suez Canal, near the Red Sea. The incident is not thought to have affected navigation or operations in the Suez Canal.

The company has opened a full investigation to determine the cause of the incident and is working closely with local authorities and emergency services. It has confirmed that the barge and personnel were fully insured, with no material impact on finances or guidance for the 2025 fiscal year.

Egypt's Ministry of Petroleum and Mineral Resources stated that it immediately activated its emergency plan following the incident, deploying sector rescue teams in the Gulf of Suez and mobilising all maritime and aerial resources, including vessels, rescue equipment, and aircraft, to assist in the rescue of the crew and coordinate with state authorities to ensure the swift recovery of survivors.

Minister of Petroleum and Mineral Resources Karim Badawi and Minister of Labour Mohamed Gobran, accompanied by senior officials from both ministries, are reported to have travelled to the site.