Fresh rig deal marks new country entry as ADES broadens its West African horizons

ADES Holding Company, part of the Saudi Arabia-headquartered ADES Group, has expanded its footprint in West Africa by securing a new drilling assignment for one of its jack-up rigs, which enables it to add a 13th country to its list of operational areas.

After ADES widened its global footprint to West Africa at the start of 2025 by adding a new country entry to its assignment location list with an offshore drilling job off the coast of Nigeria, this has now been followed by a new contract for the use of the Admarine 510 jack-up rig in Cameroon, which signifies the entry into its 13th country of operations and continuation of its expansion across the West African market, where it sees high potential.

The new drilling assignment with Addax Petroleum Cameroon Company, part of Sinopec Group, regarded as a major national oil company (NOC), will see the rig owner’s jack-up embark on a one-year firm contract, beginning in Q4 2025, with two optional six-month extensions at mutually agreed rates, for a potential total duration of up to two years.

Dr. Mohamed Farouk, CEO of ADES Holding, highlighted: “We are pleased with the continued success of our diversification strategy having further expanded our West Africa footprint into Cameroon—our 13th country of operations. This award reflects the growing trust in ADES as a leading provider of offshore drilling services in the region, and we are particularly pleased to be working directly with Addax Petroleum, a reputable operator affiliated with a major national oil company.

“The award of this long-term contract reinforces our ability to respond quickly to new opportunities and sustain fleet deployment across our core markets. Cameroon also offers a stable operating environment, which complements our broader regional strategy.”

The 12-month drilling campaign’s contract value is approximately SAR 128.9 million (nearly $34.4 million), including mobilization and demobilization. Capable of operating in water depths of 375 feet, the Admarine 510 rig is of GustoMSC CJ46-X100D design.

“By building on our recent successes in Nigeria and now expanding into Cameroon, we are building the right critical mass for optimized operations as we reinforce our long-term commitment to West Africa aiming to deliver high-quality, efficient, and safe drilling services to our clients,” Farouk added.

ADES, which enriched its fleet with two rigs from Vantage Drilling, recently got hold of a long-term contract extension in Qatar with North Oil Company (NOC), a joint venture between QatarEnergy (70%) and TotalEnergies (30%).

The company also obtained two contract renewals in Saudi Arabia for rigs that Aramco suspended in 2024.