Addax Petroleum Secures Extended Drilling Campaign Off Cameroon Coast
Addax Petroleum has contracted ADES Holding Co. to provide the Admarine 510 jackup rig for an extensive offshore drilling program in Cameroon waters. The 12-month firm contract, valued at $34.7 million including mobilization costs, includes options for two six-month extensions, potentially extending operations to 24 months.
The drilling campaign represents ADES’ first operational assignment off Cameroon as the company expands its West African presence. Operations are expected to commence during the fall, marking a significant investment in Cameroon’s offshore hydrocarbon development.
The contract aligns with Addax Petroleum’s regional exploration strategy, with the Sinopec subsidiary actively developing multiple assets across West Africa’s emerging oil provinces.
Source: offshore-mag.com