The 1982-built Main Pass IV jack-up returns to Nigerian waters under a new one-year deal worth nearly $50 million
ADES Holding Company, part of the Saudi Arabia-headquartered ADES Group, has won a new offshore drilling assignment for its jack-up rig off the coast of Nigeria in a deal estimated to be worth approximately $48.2 million.
The firm secured a one-year contract for its Main Pass IV standard jack-up rig with Belbop Nigeria, with an additional one-year unpriced option included. The total backlog for the firm term is estimated at around SAR 180.7 million, equivalent to $48.2 million. Operations under the new contract are expected to start in the third quarter of 2026, following the completion of contract preparation for the rig.
The Main Pass IV, built in 1982 and last upgraded in 2012, is of Friede & Goldman L-780-MOD II design. It is capable of working in water depths of up to 300 feet, reaching drilling depths of 25,000 feet, and can accommodate 922 personnel. The rig had recently completed previous work in the region before entering contract preparation for the new assignment.
ADES said the award reinforces its ability to secure attractive contracts across key markets and reflects continued demand for offshore jack-up capacity in what it described as a structurally tight market environment. The latest contract follows several long-term assignments the company has secured for premium jack-up rigs in Nigeria, underlining the country’s continued importance to international offshore drilling operators.
Sources: offshore-energy.biz