ADES Holding Company has secured new offshore drilling assignments for Shelf Drilling Odyssey in Nigeria and Shelf Drilling Fortress in the UK North Sea.
Seplat Energy Producing Nigeria awarded the Nigerian contract for Shelf Drilling Odyssey. The agreement covers a firm period of two years and includes two unpriced options of one year each.
Operations are expected to begin in the first quarter of 2027. The rig owner’s in-country partner will provide local support services.
The firm period is valued at approximately SAR 375.3 million, or around $100.1 million, including mobilization and demobilization fees. The amount also includes the local partner’s share.
ADES said the contract strengthens its position in Nigeria’s offshore drilling market. The award follows the recent Nigerian contract for Shelf Drilling Victory and other contracts secured by the company in West and Central Africa during the first and second quarters of 2026.
In the UK North Sea, Shelf Drilling Fortress has been contracted by an undisclosed operator for two firm wells. The firm programme has a minimum duration of 550 days.
The agreement also includes two optional one-well extensions, each with a minimum duration of 275 days. Operations are expected to start in the fourth quarter of 2026.
The North Sea contract is valued at approximately SAR 483 million, equivalent to about $129 million. This amount includes the firm work, optional extensions, and mobilization and demobilization fees.
ADES said the award follows the recent contract extension for Shelf Drilling Winner in the Netherlands.
The two assignments were secured less than one month after ADES signed an agreement with Saipem to acquire Saudi Arabian Saipem, a transaction involving an expansion of its jack-up fleet.
