ADES International Holding Ltd. announced that ADES S.A.E has entered into a long-term joint venture (JV) agreement with a subsidiary of Vantage Drilling International (‘Vantage’).  The new JV company will leverage Vantage's world-class offshore deepwater drilling experience and ADES International's leadership position within the Egyptian offshore drilling market to provide deep water drilling services in Egypt's Mediterranean basin.  The agreement will enable ADES to generate additional revenue without incurring the significant capital expenditure associated with deep water drilling. As part of the JV, Vantage will gain access to the attractive Mediterranean basin, optimize access to local workforces and service providers and increase marketability of its ultra-deep water fleet. The JV will operate Vantage's deep water 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 programmes in Egypt's Mediterranean basin. The JV will operate on a profit-sharing basis and ADES will have exclusive marketing rights within Egypt.