ADES Holding’s jack-up rig
ADES Holding Co.said it secured a one-year contract from Belbop Nigeria Ltd. for its Main Pass IV standard jack-up rig in Nigeria. 
In a statement to Tadawul, the company said that the total backlog for the firm term is estimated at nearly SAR 180.7 million ($48.2 million).
The contract has a one-year firm term, with an additional one-year unpriced option.
This award reinforces ADES’ ability to secure attractive contracts for its fleet across key markets, supporting backlog visibility and continued utilization across its global platform. It also reflects the continued strength of demand for offshore jack-up capacity amid a structurally tight market environment, according to the statement.
ADES also highlighted that the rig has recently completed its previous work in the region and is currently preparing for contract work.
Operations under the new contract are expected to commence in the third quarter of 2026.
ADES Holding’s jack-up rig
ADES Holding Co.said it secured a one-year contract from Belbop Nigeria Ltd. for its Main Pass IV standard jack-up rig in Nigeria.
In a statement to Tadawul, the company said that the total backlog for the firm term is estimated at nearly SAR 180.7 million ($48.2 million).
The contract has a one-year firm term, with an additional one-year unpriced option.
This award reinforces ADES’ ability to secure attractive contracts for its fleet across key markets, supporting backlog visibility and continued utilization across its global platform. It also reflects the continued strength of demand for offshore jack-up capacity amid a structurally tight market environment, according to the statement.
ADES also highlighted that the rig has recently completed its previous work in the region and is currently preparing for contract work.
Operations under the new contract are expected to commence in the third quarter of 2026.
