Offshore Drilling Firm Secures $48.2m Contract In Nigeria

Offshore drilling contractor ADES Holding has secured a new contract in Nigeria for its Main Pass IV standard jack-up rig.

The contract has a one-year firm term with an additional one-year unpriced option, with the firm term value of the contract of $48.2 million.

The company said the rig recently completed its previous work in the region and is currently undergoing contract preparation ahead of the new campaign.

Operations under the contract are expected to begin in the third quarter of 2026.

Main Pass IV is a 300-ft jack-up rig of F&G L780 Mod II design. It was built in 1982, and underwent upgrades in 2012. The jack-up rig’s maximum drilling depth Is 25,000 ft, and can accommodate 92 people.

“This award further reinforces ADES’ ability to secure attractive contracts for its fleet across key markets, supporting backlog visibility and continued utilization across the Group’s global platform. It also reflects the continued strength of demand for offshore jack-up capacity amid a structurally tight market environment,” ADES said in a statement.

To remind, ADES International Holding completed the acquisition of rival rig firm Shelf Drilling in November 2025, creating a global offshore drilling powerhouse, with the combined group operating with a fleet of over 80 offshore jack-ups, including more than 45 premium units across the world’s most attractive basins.