{"id":106738,"date":"2026-04-01T00:00:00","date_gmt":"2026-04-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/?p=106738"},"modified":"2026-04-01T04:01:57","modified_gmt":"2026-04-01T04:01:57","slug":"ades-lands-sar-2-7-bn-offshore-drilling-contract-in-nigeria","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/04\/01\/ades-lands-sar-2-7-bn-offshore-drilling-contract-in-nigeria\/","title":{"rendered":"Ades lands SAR 2.7 bn offshore drilling contract in Nigeria"},"content":{"rendered":"

Ades Hol<\/strong>ding signed multi-year <\/strong>contracts<\/a><\/strong> to provide offshore drilling <\/strong>services in Nigeria.<\/strong> The contractor will deploy three premium jackup rigs for the West African Exploration & Production Company under a SAR 2.73 bn (USD 729 mn) agreement.<\/p>\n

What\u2019s in store? <\/strong>Each rig is contracted for three years, with an option to extend for two more. Operations are set to begin in the second half of 2026, with Nigeria's Valiant Offshore supporting with manpower and logistics.<\/p>\n

Pushing forward with the strategy: <\/strong>Increased offshore activity and the strategic deployment of rigs across both existing and new markets helped push<\/a> the company\u2019s bottom line above analyst expectations to reach SAR 818 mn in 2025, while revenue went up 7.9% y-o-y to SAR 6.7 bn.<\/p>\n

More backup:<\/strong> The expansion hedges against the halt<\/a> of operations at several of Ades\u2019 offshore drilling rigs in the GCC amid regional tensions that blocked transit through the Strait of Hormuz. The company says the firm\u2019s steady geographic footprint \u2014 123 rigs across 20 countries \u2014 will allow it to absorb local shocks without derailing the long-term growth trajectory.<\/p>\n","protected":false},"excerpt":{"rendered":"

The contractor will deploy three premium jackup rigs for the West African Exploration & Production Company<\/p>\n","protected":false},"author":1,"featured_media":106739,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[2780,2425,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-106738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-ades","tag-energy","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"0dfdf945-8677-470f-8667-fae353ffc903","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1082.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ades lands SAR 2.7 bn contract in Nigeria","related_issue":[106727],"teaser":"The contractor will deploy three premium jackup rigs for the West African Exploration & Production Company","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"\nAdes lands SAR 2.7 bn offshore drilling contract in Nigeria - 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