Written by: Salma El-Sakka
Saudi ADES continues to expand its operations in the offshore drilling market during 2026, through a series of strategic contracts and acquisitions spanning diverse geographical regions, including Nigeria, the North Sea, Thailand, the United Kingdom, and the Netherlands.
Massive Acquisition of Offshore Drilling Rigs
Saudi ADES has completed a $285 million acquisition deal to strengthen its fleet of offshore drilling rigs, after meeting all necessary conditions to finalize the agreement signed in June 2026. The deal included the acquisition of all issued and outstanding shares of Saipem Saudi Arabia Limited, a subsidiary of Italy's Saipem.
This acquisition added 5 high-specification jack-up offshore drilling rigs to the company's fleet, including 3 owned rigs: Perro Negro 7, Perro Negro 8, and Perro Negro 10, in addition to two chartered rigs, Perro Negro 11 and Perro Negro 13. With this step, the ADES fleet now comprises 128 units, including 88 offshore units and 40 land rigs.
Strategic Expansion in Nigeria and West Africa
Nigeria emerges as a major hub for the company's activity in 2026, as ADES won several major contracts, most notably a contract with West African Exploration and Production Company (WAEP) with a total value of up to 2.73 billion Saudi riyals ($729 million) to operate 3 jack-up rigs for 3 firm years.
The company also secured a contract with Nigeria's Seplat Energy to operate the Shelf Drilling Odyssey rig valued at 375.3 million Saudi riyals ($100.1 million), and another contract with Bilbok Nigeria Limited to operate the Main Pass 4 rig valued at 180.7 million Saudi riyals ($48.2 million). In addition, the contract for the Shelf Drilling Scepter rig with Chevron Nigeria was extended, valued at 178 million Saudi riyals ($47.5 million).
Operations in the North Sea and Thailand
In the North Sea region, ADES signed a contract in the British sector to operate the Shelf Drilling Fortress rig valued at 483 million Saudi riyals ($129 million). It also successfully extended the contract for the Shelf Drilling Winner rig in the Dutch sector to reach a potential value of 832.24 million Saudi riyals ($221.93 million) for a period of up to three firm years.
In Southeast Asia, the company strengthened its presence in Thailand by winning a contract with Valeura Energy Limited to provide offshore drilling services valued at 345 million Saudi riyals ($92 million) for a duration of 3 years, which supports the company's strategy of diversifying its client portfolio and securing long-term business.
