Riyadh - Mubasher: ADES Holding Company has secured a new contract for its Main Pass IV standard jack-up rig in Nigeria, estimated at SAR 180.70 million ($48.20 million).
The contract has a one-year firm term, with an additional one-year unpriced option, according to a recent bourse filing.
The rig has recently concluded its previous work in the region and is currently undergoing contract preparation.
Operations under the new contract are expected to commence in the third quarter (Q3) of 2026.
In April, the company renewed the drilling contract with Chevron Nigeria Limited for its premium jackup rig, Shelf Drilling Scepter, for one year, with a one-year unpriced option.
