en.Wedoany.com Reported - ADES Holding disclosed in a filing submitted to the Saudi Exchange on May 13, 2026, that it has signed a one-year contract with Belbop Nigeria Limited for its Main Pass IV standard jack-up drilling rig. The contract is valued at SAR 181 million and includes an unpriced one-year option.

Under the contractual arrangement, operations are expected to commence in the third quarter of 2026. The Main Pass IV is a standard jack-up drilling rig, and this contract will see it deployed for operations in relevant offshore areas, further expanding ADES's business coverage in the international drilling services market.

ADES is a drilling services provider operating in the Middle East and North Africa region, and has been continuously expanding its international markets beyond Saudi Arabia in recent years. The signing of this contract with Belbop Nigeria marks new progress for ADES's business in the African region. Jack-up drilling rigs are key equipment for offshore oil and gas exploration and development. The execution of this contract will bring a stable revenue stream to ADES, while also reflecting the sustained vitality of the offshore drilling services market.

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