ADES Expands West African Footprint with $34.4M Cameroon Drilling Contract
ADES Holding Company has secured a significant new drilling assignment in Cameroon, marking its entry into a 13th country of operations and continuing its strategic expansion across West Africa’s promising oil and gas market.
The Saudi Arabia-headquartered company has signed a one-year firm contract with Addax Petroleum Cameroon Company, part of Sinopec Group, for the deployment of its Admarine 510 jack-up rig. The contract, valued at approximately $34.4 million including mobilization and demobilization costs, includes two optional six-month extensions that could extend the project duration to two years.
Dr. Mohamed Farouk, CEO of ADES Holding, emphasized the significance of this achievement: “We are pleased with the continued success of our diversification strategy having further expanded our West Africa footprint into Cameroon. This award reflects the growing trust in ADES as a leading provider of offshore drilling services in the region.”
The Admarine 510 rig, capable of operating in water depths of 375 feet, features a GustoMSC CJ46-X100D design. The 12-month drilling campaign is scheduled to begin in Q4 2025, building on ADES’ recent successful entry into Nigeria earlier in 2025.
The company has been actively expanding its fleet and operations, recently acquiring two rigs from Vantage Drilling and securing contract extensions in Qatar and Saudi Arabia. Farouk noted that Cameroon offers a stable operating environment that complements the company’s broader regional strategy.
Source: offshore-energy.biz