ADES Holdings, an oil and gas drilling services provider and part of the ADES Group headquartered in Saudi Arabia, has secured new multi-million dollar assignments for two drilling rigs in Africa and Europe.
ADES was awarded a contract for Odyssey Drilling Shelf Platform crane in nigeria with Seplat energy producer in NigeriaOne of the leading independent energy companies in the African country. The contract term consists of a fixed term of two years, with two optional unpriced extension periods of one year each.
The platform’s operations are expected to begin in the first quarter of 2027. Local support services within the country will be provided by the platform owner’s internal partner. The total contract value for the company period alone, including mobilization and demobilization fees, is approximately SAR 375.3 million (about $100.1 million), including ADES’ internal partner share.
The company stressed: “This award strengthens ADES’ position in the Nigerian offshore drilling market and reflects the healthy demand environment and continued momentum in offshore activity across West and Central Africa.
“The contract follows the recent award of Shelf Drilling Victory in Nigeria and builds on a series of contracts won by ADES in the region during the first and second quarters of 2026, supporting the Group’s strategy of securing long-term backlog, maintaining high fleet utilization and creating sustainable shareholder value.”
Meanwhile, ADES won a contract for Hafar Al-Jarf Castle A crane platform in the UK North Sea with an undisclosed operator in the North Sea. The deal includes two fixed wells for a minimum duration of 550 days, as well as two optional one-well extensions for a minimum duration of 275 days each.
With operations expected to begin during the fourth quarter of 2026, the total contract value, including the company term, optional extension and mobilization and demobilization fees, is approximately 483 million Saudi riyals (equivalent to approximately $129 million).
ADES highlighted: “This award reflects the healthy demand environment in the North Sea and follows the recent contract extension secured by ADES in the region for the winning Shelf Drilling company in the Netherlands.
“Together, these awards reinforce the Group’s strategy of securing long-term backlog, maintaining high fleet utilization and creating sustainable shareholder value.”
These new missions come less than a month after ADES I made a deal With Saipem acquiring Saudi Saipem (SAS), expanding its fleet of trucks.
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