ADES International Holding (ADES) secured two offshore drilling contracts in the UK North Sea and Nigeria, totaling approximately SAR 858.3 million ($228.56 million), according to a press release by the company.
In the UK, ADES signed an agreement with NEO NEXT+ Energy E&P UK Limited to deploy the Shelf Drilling Fortress jack-up rig. The contract is valued at SAR 483 million (about $129 million), covering mobilization, demobilization, and both firm and optional extension periods.
It covers two firm wells for a minimum of 550 days, with two optional one-well extensions of at least 275 days each. Operations are set to begin in Q4 2026, marking a significant milestone in ADES’s North Sea presence.
ADES is also expanding in West Africa with a contract for the Shelf Drilling Odyssey jack-up rig in Nigeria, awarded by Seplat Energy Producing Nigeria Unlimited. The project is valued at SAR 375.3 million (about $100.1 million), including mobilization, demobilization, and ADES’s local partner’s share.
The agreement includes a two-year firm period and two unpriced one-year extensions. Drilling is expected to start in Q1 2027, following regional contract wins earlier in 2026, such as the Shelf Drilling Victory in Nigeria.
These dual awards highlight strong demand and continued momentum in offshore activity across the North Sea and West and Central Africa, supporting ADES’s regional growth strategy. ADES Holding’s approach to fleet management and regional expansion aims to ensure operational stability into 2027 while creating sustainable shareholder value, as the Group capitalizes on robust global demand for premium offshore drilling services.
ADES International Holding Company is an oil and gas drilling services provider headquartered in Al-Khobar, Saudi Arabia, after relocating from Egypt, where it was founded in 2002. The company operates a fleet of approximately 90 rigs across onshore and offshore shallow-water environments.
It maintains operations in 13 countries, including Saudi Arabia, Kuwait, Qatar, Egypt, Algeria, Tunisia, India, Indonesia, and Thailand. ADES is a contract drilling partner for Saudi Aramco and is listed on the Saudi Exchange (Tadawul) following an initial public offering (IPO) backed by Saudi Arabia’s Public Investment Fund (PIF).
