Industry

The acquisition will bring survey management services. (Image source: Adobe Stock)

Ikon Science, a global provider of geopredictive software, is strengthening its wellbore solutions portfolio with the acquisition of roundLAB Inc., an independent wellbore positioning and survey management specialist

The acquisition will bring proven survey correction services and algorithms designed to improve wellbore position certainty, reduce collision risk, and increase confidence in target delivery during drilling operations. Customers can benefit from:

• Expanded wellbore solutions: Survey management services, including sag correction and magnetic survey error reduction via MSA, IFR1 & IFR2,
• Improved well placement confidence: Reduced uncertainty and more consistent survey QC to support anti-collision and boundary management decisions, providing assurance that drilling and completions are conducted as originally planned.
• Operational continuity: roundLAB’s high-quality service delivery model and customer support will continue, with a planned roadmap for deeper workflow alignment across Ikon’s subsurface platforms and services to help drive further value to customers.

“This acquisition accelerates our Wellbore Solutions roadmap,” said Francisco Morillo, Ikon Science’s CEO. “By bringing roundLAB’s independent, high-quality well survey management services into Ikon Science, we expand the accuracy and assurance of wellbore positioning workflows, complementing our rock physics, pore pressure and geomechanics capabilities with drilling-facing execution confidence. The result is a more connected workflow from subsurface understanding to well planning and well placement.”

“Joining Ikon Science allows us to scale our survey management and well placement services globally,” said Dukhwa (Duk) Hong, roundLAB’s co-founder and sr. technical authority in Survey Management.

“Ikon’s deep subsurface domain expertise, global reach, and integrated software platforms create an ideal home for our technology and team, and we’re excited to deliver even more value to operators as they drill more complex wells and pursue tighter targets.”

AD Ports has seen revenue and profits rise by 20% and 16% respectively. (Image source: AD Ports)

AD Ports Group has reported an increase in revenue and profits of 20% and 16% respectively for 2025, as it strengthened its key trade corridors and geographies, optimised its asset portfolio and balance sheet, and invested in port infrastructure, logistics capabilities, and maritime connectivity to facilitate international expansion

The Group’s Ports, Economic Cities & Free Zones, and Maritime & Shipping Clusters were the key drivers to the record Group Revenue of AED 20.77 billion, and record Total Net Profit of AED 2.07 billion, a five-fold increase since 2020.

During 2025, the Group’s customer base expanded by almost 20%, and spending by its top 10 customers increased by approximately 40%, reflecting the growing appeal of the Group’s end-to-end solutions.

The Group’s report ‘’Curating Connectivity” highlights its successful efforts at leveraging its growing presence along key international trade corridors and geographies, such as in the UAE, Europe, Egypt, Pakistan, and Africa, to prime its integrated trade platforms for stronger performance and boost global connectivity, despite a challenging year marked by regional conflicts, tariffs, weakening global macroeconomic environment, and continued supply chain disruptions.

During 2025, the Group announced plans with global shipping line partner CMA CGM Group to expand their joint CMA Terminals Khalifa Port container facility in Abu Dhabi, purchased equity stakes in leading container terminal operators in Egypt and Syria, and announced plans with Egyptian partners to develop the 20 km2 KEZAD East Port Said Industrial and Logistics Zone.

The Group started container feeder shipping services in West and East Africa, began multipurpose port terminal operations and an inland logistics business in Angola, and expanded port operations in Pakistan, in its bid to develop its key trade corridors.

At the same time, the Group made significant investments at home to strengthen Abu Dhabi’s position as an international trade and industrial hub.

The UAE’s expansion of its non-oil economy, and global supply chain shifts, contributed to the Group’s profitable global expansion. According to the Central Bank of the UAE (CBUAE), the UAE recorded GDP growth of approximately 5% in 2025, driven by non-oil expansion in trade, logistics, manufacturing and services.

Progress was also made in technology development and sustainability. The Group received a Guinness World Record for deploying the most agentic AI agents across a global logistics company, and lowered the carbon intensity of its global operations, reflecting its energy efficiency measures, low carbon investments, and the transition toward more electrified operations.

In 2026, AD Ports Group remains focused on deepening its corridor-based model, integrating assets, and converting operational presence into sustainable long-term value. The Group will focus on developing, upgrading, and starting commercial operations of its port terminals in the UAE, and in Safaga, Egypt, Karachi, Pakistan, and Latakia, Syria.

H.E. Mohamed Hassan Alsuwaidi, chairman of AD Ports Group, said, “The Group’s results reflect not only the scale and resilience of its diversified business model and integrated clusters, but also the growing confidence that customers, partners, and investors place in AD Ports Group as a long-term driver of sustainable growth. AD Ports Group’s operational agility enables it to pivot profitably in volatile trading environments to produce consistent strong results through the cycle.”

Captain Mohamed Juma Al Shamisi, managing director and Group CEO – AD Ports Group, said: “Our performance in 2025 reflected the disciplined execution, the growing maturity of our asset base, and the increasing strategic importance of our corridor-focused and regional strategy to customers and partners worldwide. We continued, guided by our wise leadership, to interconnect our ports, maritime services, logistics platforms, and economic zones into a coherent ecosystem that enables customers to move cargo, capital, and operations more efficiently along key trade corridors.”

The move affects a limited portion of the company’s offshore fleet. (Image source: Adobe Stock)

Saudi Arabia-based Arabian Drilling Company has temporarily suspended a number of its offshore rigs as a precautionary measure, citing safety concerns linked to ongoing regional tensions

In a statement to the Saudi Exchange, the company confirmed that the suspensions were implemented in line with established safety and operational procedures, with a primary focus on safeguarding personnel and protecting critical assets.

The move affects a limited portion of the company’s offshore fleet, while its onshore operations remain unaffected. Arabian Drilling said its land fleet of 39 rigs continues to operate at full capacity, maintaining uninterrupted activity across its domestic projects.

Management indicated that the decision was taken following consultations with clients and an internal review of the evolving situation. The company stressed that the suspensions are expected to be temporary, with operations set to resume once conditions stabilise and risks are reassessed.

Chief executive Fahad Albani said the company remains focused on ensuring operational safety during a period of uncertainty. He noted that while offshore activity has been paused in specific cases, Arabian Drilling retains the capability to restart operations quickly when it is deemed safe to do so.

The company operates a fleet of 60 rigs, of which 45 are currently active, according to its latest disclosures. By prioritising safety-led decision-making, Arabian Drilling aims to minimise exposure to potential hazards while maintaining readiness to respond to changing conditions.
Industry observers note that precautionary suspensions are a common response during periods of heightened geopolitical risk, particularly in offshore environments where safety considerations are paramount. Such measures are typically designed to reduce the likelihood of incidents involving personnel, equipment or infrastructure.

Arabian Drilling added that it expects only a limited financial impact in the first quarter of 2026, with a recovery anticipated once operations resume. The company continues to monitor developments closely and is maintaining operational preparedness across its fleet.

The broader industry is also taking a cautious approach. ADES Holding Company recently indicated that a small number of offshore rigs across the GCC have been temporarily halted under similar circumstances, underscoring a wider emphasis on risk mitigation.

As regional uncertainty persists, safety remains a central priority for operators, with companies balancing operational continuity against the need to protect workers and infrastructure in challenging environments.

LNG trains, refineries, fuel terminals and critical gas-to-liquids facilities across the region have incurred damage. (Image source: Adobe Stock).

Repair and restoration costs of Middle East war-damaged infrastructure are likely to top US$25bn, and could rise further, according to Rystad Energy assessments

Particularly hard hit has been Qatar’s Ras Laffan Industrial City, where the destruction of LNG trains has triggered force majeure and a 17% capacity reduction, equivalent to about 12.8 million tonnes per annum (Mtpa). A full recovery could take up to five years, given that the gas turbines required to power LNG main refrigeration compressors are supplied by only three original equipment manufacturers (OEM) globally, all of which have production backlogs.

Bahrain has also been badly impacted, says Rystad. BapcoEnergies’ Sitra Refinery was struck twice, damaging two crude distillation units (CDU) and a tank farm, with force majeure declared across group operations. The facility had just been completed under its US$7bn modernisation program in December 2025. Restoring the units could require international contractors to be re-mobilised at considerable cost, as the damaged assets had only recently come online.

There were also disruptions in other countries, including the UAE, Kuwait, Iraq and Saudi Arabia. It is noteworthy that Saudi Aramco was able to swiftly restart operations at Ras Tanura, where maintenance teams were already onsite for a planned turnaround when debris fell inside the perimeter, reflecting its domestic capability.

The speed of recovery in the region will depend on execution capacity and capital deployment timing, as repair spending ramps up. Operators are likely to prioritise restoring existing fields, creating demand for EPC contractors and OEMs, especially those with regional experience and existing agreements with national oil companies. Near-term work will most likely focus on inspection, engineering and site preparation, followed by equipment replacement and construction as procurement constraints ease. In Iran, domestic and East Asian companies will likely carry out most of the repair work given continued Western sanctions, which could be slower and more expensive.

“The Gulf region’s recovery will be defined less by financial capital and more by structural constraints,” said Audun Martinsen, head of Supply Chain Research at Rystad Energy.

“While some assets may be restored within months, others could remain offline for years. Beyond the status of the Strait of Hormuz, every day of damaged or shut-in infrastructure pushes pre-war production capacity further out of reach. Iran’s South Pars offshore field and Qatar’s Ras Laffan facility stand out as particularly concerning cases. The scale of damage and long lead times for critical equipment could result in slow recovery. Urgent repairs will have to take precedence in place of planned expansion.”