Saudi Drilling Giant Lands $729 Million Nigeria Deal in Biggest West Africa Offshore Push Yet
ADES International Holding has secured a landmark multi-rig contract worth approximately SAR 2.73 billion (around $729 million) to provide jack-up drilling services offshore Nigeria, in one of the most significant offshore drilling awards the country has seen in years.
The deal, struck with West African Exploration & Production (WAEP) — part of the powerful Dangote Group — covers three premium jack-up rigs committed for three years firm, with a two-year optional extension. Operations are expected to commence in the second half of 2026, drawing on rigs already operating in the region as well as units to be relocated from other markets.
In-country partner Valiant Offshore will provide manpower, local supplies, and logistical support for the programme. The contract value includes mobilisation and demobilisation fees as well as the in-country partner’s share.
In addition to this landmark award, ADES also secured a one-year extension — with a further one-year unpriced option — for its Shelf Drilling Scepter jack-up rig, adding approximately SAR 178 million (around $47.5 million) to its backlog in continuation of the rig’s existing contract, which expires in July 2026.
Dr. Mohamed Farouk, CEO of ADES Holding, said Nigeria continues to evolve as one of the most demanding territories for jack-up drilling, driven by strong demand fundamentals, rising offshore activity, and a structurally undersupplied rig market. He described the multi-rig commitment as a testament to the company’s global fleet strength and its ability to execute multi-year upstream development programmes in emerging offshore markets.
ADES views the West Africa expansion as central to its strategy of building a scaled, globally diversified platform, and said the Dangote Group’s growing upstream activities play an increasingly critical role in Nigeria’s integrated energy landscape.
Source: offshore-energy.biz
