ADES wins jackup drilling contract in Nigeria

ADES Holding announced that its offshore jackup rig “Admarine 504” has been awarded a drilling contract in Nigeria with Brittania-U, an indigenous integrated energy company that operates across the oil and gas value chain in Nigeria. This marks the company’s first entry into West Africa.

ADES will provide the rig along with its senior crew and relevant management systems to Valiant Offshore against a charter fee. In return, Valiant will fulfill its drilling obligations under its contract with Brittania-U.

The value of the charter contract between ADES and Valiant is estimated at $21.8 million, which represents a percentage from the drilling contract between Brittania-U and Valiant. The contract is to drill and complete six wells within an estimated duration of 365 days. Operations are expected to commence in Q2 2025.