Offshore Drilling Firm Secures $48.2 Million Contract In Nigeria

Offshore drilling contractor, ADES Holding has secured a new contract in Nigeria for its Main Pass IV standard jack-up rig.
The contract has a one-year firm term with an additional one-year unpriced option, with the firm term value of the contract of $48.2 million.
The company said the rig recently completed its previous work in the region and is currently undergoing contract preparation ahead of the new campaign.
Operations under the contract are expected to begin in the third quarter of 2026.
Main Pass IV is a 300-ft jack-up rig of F&G L780 Mod II design. It was built in 1982, and underwent upgrades in 2012. The jack-up rig’s maximum drilling depth Is 25,000 ft, and can accommod...