ADES Holding has secured a $21.8 million contract with Brittania-U for its Admarine 504 jack-up drilling rig, marking its first entry into Nigeria’s offshore oil and gas sector. The rig, currently operating in Saudi Arabia, will be mobilized to Nigeria in Q1 2025 under a mutually agreed suspension of its existing contract. This strategic flexibility allows ADES to deploy the rig in West Africa while preserving its backlog value for resumption in Saudi Arabia post-suspension.

In Nigeria, operations will be jointly handled by ADES and its local partner, Valiant Offshore Contractors. ADES will provide the rig, senior crew, and management systems, while Valiant will execute the drilling and completion of six wells over an estimated 365 days. This collaboration highlights ADES’ strategic approach to entering new markets and fulfilling client commitments.

Mohamed Farouk, CEO of ADES Holding, expressed optimism about the company’s growth trajectory:

“Our entry into Nigeria is a significant step in diversifying our footprint into high-potential regions. With this milestone, we continue to expand globally while demonstrating agility in meeting client needs across existing and emerging markets.”