ADES has secured a $92.7 million offshore drilling contract in Nigeria with Seplat Energy Producing Nigeria Unlimited.
The agreement covers the operation of the Shelf Drilling Victory rig for an initial two-year term, with an option to extend. The contract, initially valued at 347.6 million Saudi riyals, amounts to about $92.7 million based on current exchange rates.
The contract also covers mobilization and start-up expenses and includes a local Nigerian partner, supporting efforts to increase local participation in offshore energy operations.
This latest award further expands ADES’ operations in Nigeria, bringing the company’s total offshore contract value in the country to about $843.5 million between 2025 and 2026.
Nigeria has become an important market for ADES as the company continues expanding outside the Middle East. ADES entered the Nigerian market in 2025 after winning a $21.8 million drilling and completion contract from Brittania-U Nigeria Limited. The project involved the deployment of the Admarine 504 jack-up rig to drill six wells within one year.
Since then, ADES has continued to grow its presence in the country. In March 2026, the company secured a larger contract worth up to $729 million to supply three jack-up rigs under Nigeria’s Offshore Fields Development Project. A West African oil exploration company linked to the Dangote Group awarded the deal, marking a major expansion of ADES’ operations in the region.
Together, these contracts show how ADES has steadily moved from smaller entry projects to larger offshore developments involving multiple rigs and longer-term partnerships with operators such as Seplat.
Chief Executive Mohamed Farouk said the company’s expansion in Nigeria supports its broader international growth plans, especially in offshore markets with strong potential.
source: africa.businessinsider.com
African Energy Council