ADES Holding’s jack-up rig
ADES Holding Co. signed multi-year contracts for three jackup rigs in Nigeria, with a total estimated contract value of approximately SAR 2.73 billion (about $729 million), including mobilization and start-up fees as well as the share of ADES’ local partner. 
The company said in a statement on Tadawul that the contracts were signed with West African Exploration and Production (WAEP), a subsidiary of Dangote Group, to support the development of offshore fields in Nigeria.
It added that ADES’ local partner, Valiant Offshore, will provide local support services, including manpower, related local supplies, and the necessary logistics required to execute the program.
The company stated that each rig contract carries a firm term of three years, with an option to extend for an additional two years. Operations of the three rigs are expected to begin in the second half of 2026.
ADES Holding’s jack-up rig
ADES Holding Co. signed multi-year contracts for three jackup rigs in Nigeria, with a total estimated contract value of approximately SAR 2.73 billion (about $729 million), including mobilization and start-up fees as well as the share of ADES’ local partner.
The company said in a statement on Tadawul that the contracts were signed with West African Exploration and Production (WAEP), a subsidiary of Dangote Group, to support the development of offshore fields in Nigeria.
It added that ADES’ local partner, Valiant Offshore, will provide local support services, including manpower, related local supplies, and the necessary logistics required to execute the program.
The company stated that each rig contract carries a firm term of three years, with an option to extend for an additional two years. Operations of the three rigs are expected to begin in the second half of 2026.
