ADES gets hold of three new jack-up jobs and rig deal extension in Nigeria

April 16, 2026, by Melisa Cavcic

ADES International Holding, a subsidiary of ADES Holding Company, which is part of Saudi Arabia-headquartered ADES Group, has obtained multi-year assignments for three premium jack-up rigs and a contract extension for one drilling unit off the coast of Nigeria.

Shelf Drilling Scepter rig; Source: Shelf Drilling

ADES has secured an extension of the drilling contract for its Shelf Drilling Scepter jack-up rig in Nigeria for a firm period of a year, with a one-year unpriced option. This extension comes in direct continuation of the rig’s existing contract, expiring in July 2026, and adds around SAR 178 million (approximately $47.5 million) to the firm’s backlog.

Dr. Mohamed Farouk, CEO of ADES Holding, commented: “This extension marks an important step following the acquisition of Shelf Drilling, reinforcing our strategic rationale of building a scaled, globally diversified platform with access to leading international markets and clients.

“Our expanding international footprint allows us to capture opportunities across high-growth offshore markets like West Africa. Supported by a high-quality asset base and strong execution capabilities, we are well-positioned to navigate evolving market dynamics and deliver sustainable long-term 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, rising offshore activity, and a structurally undersupplied rig market. As a result, this extension further advances the firm’s efforts to deepen its presence across West Africa and build a diversified, multi-geography platform.

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The latest contract extension comes after ADES entered into a multi-rig contract with West African Exploration & Production (WAEP), part of the Dangote Group, for providing jack-up drilling services offshore Nigeria. The contracts include three of the company’s premium jack-up drilling units, which will undertake WAEP’s field development campaign offshore Nigeria.

The contract duration for each is three years firm, with a two-year optional extension. The operations for the three rigs are expected to begin in H2 2026. ADES explains that it will fulfill this contractual requirement using a mix of its high-specification fleet portfolio, including rigs already operating in the region, as well as those from other markets, which will be relocated to Nigeria later this year.

The company’s in-country partner, Valiant Offshore, will provide in-country support services, encompassing the supply of manpower and related local supplies and logistical support required for the execution of the program. The total contract value, including mobilization and demobilization fees, is about SAR 2.73 billion (approximately $729 million), inclusive of the share of ADES’ in-country partner.

Dr. Farouk emphasized: “We are very pleased to start this relationship with WAEP, a fast-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 both an upstream producer and a downstream processing hub, we are well placed to support the development of its full energy value chain.”

This award is perceived to mark a major milestone for ADES’ West and Central Africa expansion strategy, reinforcing its presence in the region’s most promising and undersupplied offshore drilling market while leveraging the firm’s global fleet mobility and commercially agile operating model.

Dr. Farouk added: “This multi-rig commitment is a testament to the strength of our global fleet, our ability to mobilize efficiently across regions, and our proven capability to execute multi-year upstream development programs in emerging offshore markets.

“In line with the view we expressed last year when we relocated two of our rigs, Nigeria continues to evolve as one of the highest demanding territories for jack-ups, and we continue to see increasing momentum in tendering activity, particularly for clients seeking long-term partnerships with internationally experienced operators such as ADES.”