Saudi drilling contractor ADES Holding has secured a new offshore drilling contract in Nigeria for the jackup Shelf Drilling Victory.

The agreement, signed with Seplat Energy, covers a firm period of two years and includes options for two additional one-year extensions.

The contract is valued at approximately SAR347.6 million, equivalent to $92.7 million. This includes mobilization and demobilization fees, as well as the share allocated to ADES’ local partner.

Operations are scheduled to begin in the second half of 2026, following completion of the rig’s current campaign in Nigerian waters.

ADES stated that local support services will be delivered through its domestic partner, in line with local content requirements.

The award adds to ADES’ recent activity in Nigeria, which the company has identified as a key market within its international portfolio. The contractor has also recently secured work for three premium jackups in the country, further strengthening its offshore presence in West Africa.