ADES Holding secures $48.2M contract for Main Pass IV jack-up rig in Nigeria
Type: Supply Agreement · Technology: Oil Gas · Country: Nigeria · Value: $48.2M · Announced: 2026-05-15
Offshore drilling contractor ADES Holding secured a one-year firm contract worth $48.2 million for its Main Pass IV jack-up rig in Nigeria, with an additional one-year unpriced option. The contract, announced on May 15, 2026, follows the rig's recent completion of prior work in the region and includes preparations for a new drilling campaign. Operations are scheduled to commence in Q3 2026. The Main Pass IV is a 300-ft jack-up rig with a maximum drilling depth of 25,000 ft, capable of accommodating 92 personnel. This deal reinforces ADES' contract backlog and highlights strong demand for offshore jack-up capacity in a tight market. The transaction aligns with ADES International Holding's acquisition of Shelf Drilling in November 2025, which expanded its global fleet to over 80 jack-ups.
Counterparties
- ADES Holding (Supplier)
- ADES International Holding (Parent Company)