ADES International Holding, a subsidiary of ADES Holding, which is part of the ADES Group headquartered in Saudi Arabia, has secured multi-year assignments for three distinct drilling rigs and a contract extension for one drilling unit offshore Nigeria.
ADES has been awarded an extension to its drilling contract Mace drill shelf Lifting platform in Nigeria for a fixed period of one year, with an unpriced option of one year. This extension is a direct continuation of the platform’s current contract, which expires in July 2026, and adds approximately 178 million Saudi riyals (about 47.5 million US dollars) to the company’s backlog.
Dr. Muhammad FaroukADES Holding CEO commented: “This extension indicates An important step following the acquisition of Shelf Drilling, which reinforces our strategic rationale of building a broad, globally diversified platform with access to leading international markets and customers.
“Our expanding international footprint allows us to seize opportunities across high-growth overseas markets such as West Africa. Supported by a high-quality asset base and strong execution capabilities, we are well positioned to navigate evolving market dynamics and deliver long-term sustainable growth across our expanded global platform.”
The rig owner claims that Nigeria remains a strategically important market within its international portfolio, supported by strong demand fundamentals, increasing offshore activity, and a structurally deficient drilling market. As a result, this extension strengthens the company’s efforts to deepen its presence across West Africa and build a diverse, multi-geographic platform.
The latest contract extension comes after ADES entered into a multi-platform contract with West African Exploration and Production (WAEP)part of Dangote groupTo provide offshore drilling services off the coast of Nigeria. The contracts include three of the company’s premium drilling units, which will undertake the development of WAEP’s fields off the coast of Nigeria.
The duration of the contract for each of them is three fixed years, with the possibility of an optional two-year extension. The three rigs are expected to begin operations in the second half of 2026. ADES explains that it will meet this contractual requirement using a combination of its high-specification fleet portfolio, including rigs already operating in the region, as well as those in other markets, which will be transferred to Nigeria later this year.
The company’s partner inside the country, Naval courageIt will provide in-country support services, which include the supply of manpower, relevant local supplies and logistical support necessary to implement the programme. The total value of the contract, including mobilization and demobilization fees, is approximately 2.73 billion Saudi riyals (about 729 million dollars), including the share of the internal partner of ADES.
Dr. Farouk confirmed: “We are very pleased to begin this relationship with WAEP, a rapidly growing energy player and part of the influential Dangote Group, whose upstream activities play an increasingly critical role in Nigeria’s integrated energy landscape. As Nigeria strengthens its position as an upstream producer and downstream processing hub, we are well placed to support the development of its full energy value chain.”
This award is seen as a major milestone for ADES’ expansion strategy in West and Central Africa, strengthening its presence in the region’s promising and undersupplied offshore drilling market while leveraging the company’s global fleet mobility and flexible commercial operating model.
Dr. Farouk added: “This multi-platform commitment is a testament to the strength of our global fleet, our ability to efficiently mobilize across regions, and our proven ability to execute multi-year development programs in emerging overseas markets.
“In line with the view we expressed last year when we relocated two of our rigs, Nigeria continues to develop as one of the most demanding regions for jack-up operations, and we continue to see increasing momentum in tender activity, especially for clients looking for long-term partnerships with internationally experienced operators such as ADES.”
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