ADES has secured one new drilling contract and one contract extension covering two jackup rigs. The company said the two deals increase its backlog by about $270.1 million.
The Saudi oil and gas drilling contractor said Nigerian exploration and production company Belop awarded a new contract for the 1982-built jackup Main Pass IV in Nigeria.
The contract covers a one-year firm period and includes an additional one-year unpriced option. The firm portion is valued at about SAR 180.7 million, or $48.2 million.
Main Pass IV has recently finished its previous work in the region and is being prepared for the new campaign. Operations under the contract are expected to begin in the third quarter of 2026.
In a separate deal, Tenaz Energy extended the contract for the 2014-built jackup Shelf Drilling Winner in the Dutch sector of the North Sea. The extension changes the original one-year firm period into a three-year firm term, while keeping the same optional structure.
The contract began in mid-November 2025 and was initially agreed as a one-year firm deal with two additional one-year options. Including the revised firm period and both optional extensions, the total potential contract value is about SAR 832.2 million, or $221.9 million.
ADES said the awards come as offshore rig supply remains tight and suitable units remain limited in availability.
