Saudi-based offshore drilling company ADES International Holding has secured a $92.7 million offshore drilling contract in Nigeria with Seplat Energy Producing Nigeria covering the operation of the Shelf Drilling Victory rig for an initial two-year period, with extension options included.
The contract value, estimated at 347.6 million Saudi riyals, includes mobilisation, start-up costs, and participation from a local Nigerian partner as part of efforts to deepen local content integration in the offshore industry.
ADES Strengthens Nigerian Presence
The latest award significantly expands ADES’ footprint in Nigeria, bringing the company’s cumulative offshore project value in the country to approximately $843.5 million between 2025 and 2026.
Nigeria has emerged as a major growth market for the Saudi drilling company as it diversifies beyond the Middle East into high-potential offshore regions.
ADES first entered Nigeria in 2025 through a $21.8 million drilling and completion contract with Brittania-U Nigeria Limited. That project involved deploying the Admarine 504 jack-up rig to drill six wells over a one-year period.
In March 2026, the company secured another major offshore deal reportedly worth up to $729 million to deploy three jack-up rigs under Nigeria’s Offshore Fields Development Project. The contract was awarded by a West African oil exploration entity linked to the Dangote Group.
The progression from smaller drilling projects to multi-rig offshore developments highlights ADES’ long-term expansion strategy across Africa’s energy sector.
ADES Chief Executive Officer Mohamed Farouk said the company’s expansion into Nigeria aligns with its broader international growth ambitions.
“Those extensions mark an important step following the acquisition of Shelf Drilling, reinforcing our strategic rationale of building a scaled, globally diversified platform with access to leading international markets and clients,” Farouk said.
He added that West Africa remains a priority region as offshore drilling demand continues to increase. “Our expanding international footprint allows us to capture opportunities across high-growth offshore markets like West Africa,” he stated.
According to Farouk, ADES is positioning itself to benefit from changing market conditions through its growing fleet and operational capabilities.
“Supported by a high-quality asset base and strong execution capabilities, we are well-positioned to navigate evolving market dynamics and deliver sustainable long-term growth,” he added.
