ADES Holding Company has secured a new offshore drilling contract in Nigeria for its jack-up rig Main Pass IV.
The assignment was awarded by Belbop Nigeria and covers a one-year firm period, with a further one-year option that has not yet been priced. The firm part of the contract is valued at about SAR 180.7 million, equal to around $48.2 million.
Main Pass IV recently completed its previous work in the same region and is now being prepared for the new campaign. Operations under the contract are expected to begin in the third quarter of 2026.
ADES Holding Company said the award supports continued use of its fleet across key markets and adds visibility to its backlog. The company also pointed to firm demand for offshore jack-up rigs in a tight supply environment.
Built in 1982, Main Pass IV is a Friede & Goldman L-780-MOD II standard jack-up rig. The unit was last upgraded in 2012.
The rig can work in water depths of up to 300 feet and drill to a maximum depth of 25,000 feet. It has an accommodation capacity for 922 personnel.
