ADES Holding has won new offshore drilling work in Nigeria through a package covering three premium jack-up rigs and a separate extension for another unit, lifting its backlog in West Africa.
The company signed the three-rig agreement with West African Exploration & Production (WAEP), part of the Dangote Group, for a field development program offshore Nigeria. Each rig was awarded a firm three-year term, with options for up to two more years. Startup is planned for the second half of 2026.
The combined value of the three contracts is about $729 million, including mobilization and demobilization fees. The total also includes the share of Valiant Offshore, ADES’ in-country partner, which will provide manpower, logistics and local support services. ADES said the campaign will be served by a mix of rigs already working in the region and units moved from other markets.
In a separate award, ADES also secured a one-year extension for the premium jack-up rig Shelf Drilling Scepter in Nigeria, directly continuing the current contract due to expire in July 2026. The extension also carries a one-year unpriced option and adds about $47.5 million to backlog.
Chief Executive Mohamed Farouk said the new award starts a relationship with WAEP and highlights the company’s fleet depth, cross-region mobilization capability and experience in long-term offshore development work. He also said Nigeria remains a high-demand jack-up market. On the Shelf Drilling Scepter extension, he said the award supports the company’s strategy after the acquisition of Shelf Drilling.
