ADES Holding’s jack-up rig
ADES Holding Co. has been awarded an offshore drilling services contract for the rig “Shelf Drilling Victory” from Nigeria’s Seplat Energy. 
The company said in a statement on Tadawul that the total value of the firm term only, including mobilization and start-up fees, amounted to approximately SAR 347.6 million ($92.7 million), including ADES’s local partner share.
The contract has a firm term of two years, with optional, unpriced extensions for two additional one-year periods.
Operations are expected to commence in the second half of 2026, following completion of the rig’s current activities in the country.
The company noted that this contract reflects its strong confidence in the Nigerian market and reinforces its leadership position in the region, supporting its international geographic diversification strategy.
It also highlighted that this award follows recent contracts signed with West African Exploration and Production Co. (WAEP) in Nigeria for three premium jack-up rigs, underscoring its belief in Nigeria as a fast-growing market for drilling and exploration activities, driven by rising energy demand, national production targets, and increased upstream investment.
ADES Holding’s jack-up rig
ADES Holding Co. has been awarded an offshore drilling services contract for the rig “Shelf Drilling Victory” from Nigeria’s Seplat Energy.
The company said in a statement on Tadawul that the total value of the firm term only, including mobilization and start-up fees, amounted to approximately SAR 347.6 million ($92.7 million), including ADES’s local partner share.
The contract has a firm term of two years, with optional, unpriced extensions for two additional one-year periods.
Operations are expected to commence in the second half of 2026, following completion of the rig’s current activities in the country.
The company noted that this contract reflects its strong confidence in the Nigerian market and reinforces its leadership position in the region, supporting its international geographic diversification strategy.
It also highlighted that this award follows recent contracts signed with West African Exploration and Production Co. (WAEP) in Nigeria for three premium jack-up rigs, underscoring its belief in Nigeria as a fast-growing market for drilling and exploration activities, driven by rising energy demand, national production targets, and increased upstream investment.
