ADES’ 1982-built rig scoops up multimillion-dollar drilling gig in Nigerian waters

ADES Holding Company, which is part of Saudi Arabia-headquartered ADES Group, has won a new offshore drilling assignment for one of its jack-up rigs off the coast of Nigeria.

ADES has secured a one-year firm contract for its Main Pass IV standard jack-up rig in Nigeria, with an additional one-year unpriced option. The total backlog for the firm term with Belbop Nigeria is estimated at approximately SAR 180.7 million, equivalent to $48.2 million.

The 1982-built jack-up has recently concluded its previous work in the region and is currently undergoing contract preparation. The rig owner explains that operations under the new contract are expected to start in the third quarter of 2026.

“This award further reinforces ADES’ ability to secure attractive contracts for its fleet across key markets, supporting backlog visibility and continued utilization across the Group’s global platform. It also reflects the continued strength of demand for offshore jack-up capacity amid a structurally tight market environment,” underlined the firm.

The Main Pass IV rig, which is of Friede & Goldman L-780-MOD II design, received its last upgrade in 2012. With a maximum drilling depth of 25,000 feet, the rig, which can accommodate 922 people, is capable of working in a water depth of 300 feet.

This drilling deal follows long-term assignments for three premium jack-up rigs and a contract extension for one drilling unit in the same African country.

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