Four Dead, Three Missing As Vessel Capsizes in Suez Gulf

At least four people died when a vessel capsized while being towed in the Gulf of Suez, one of Egypt’s prominent Red Sea oil production sites, the vessel operator’s Saudi Arabian owner, ADES Holding Company, said on Wednesday.

In a statement released by the Suez Canal Authority Chairman Osama Rabie, the incident occurred around 130 nautical miles from the southern entrance of the Suez Canal and has not disrupted navigation along the trade route.

On Tuesday, Egypt’s petroleum ministry said oil and gas producer Offshore Shukheir Oil Co. (OSOCO) reported the incident as occurring near Egypt’s Gabal El-Zeit area along the Red Sea.

The vessel is a jackup barge unit named Admarine 12 owned by a subsidiary of offshore drilling service provider ADES. It was carrying 30 personnel, 23 of whom were rescued, ADES said in disclosure to the Saudi Exchange.

Four Dead, Three Missing As Vessel Capsizes in Suez Gulf

The petroleum ministry earlier misidentified the vessel as Adam Marine 12.

Three ADES personnel and one contractor were killed, and rescuers are searching for the remaining three, ADES said. The vessel was operating in a concession where ADES and OSOCO have partnered to drill wells.

ADES said the vessel and personnel are comprehensively insured and at this stage there is no material impact on finances or guidance for the fiscal year 2025.

“The company is working closely with local authorities and emergency services, with the safety and well-being of all personnel remaining its highest priority. A full and thorough investigation into the incident will be conducted,” ADES said.