ADES Wins $48.2M Nigeria Jackup Contract

ADES

ADES

2382.SA

0.00

ADES Holding Co. announced on May 13, 2026 that it has secured a one-year offshore drilling services contract with Belbop Nigeria Limited for its standard jackup rig Main Pass IV. The contract has a total backlog value of approximately SAR 180.7 million (USD 48.2 million) for the firm term, with an additional one-year unpriced option. Operations are expected to commence in the third quarter of 2026, following the rig's contract preparation phase after concluding its previous work in the region.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95357&anCat=1&cs=2382&locale=ar

Attached PDF document link:

https://www.saudiexchange.sa/Resources/fsPdf/26594_4926_2026-05-13_14-50-14_en.pdf

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