ADES Holding co. has announce that it has been awarded a new contract for the use of Admarine 510 in Cameroon, marking ADES’ entry into its 13th country of operations and continuation of Company’s expansion across the high-potential West African market.
The contract duration and scope include a one-year firm contract which is commencing in Q4 2025, with two optional six-month extensions at mutually agreed rates, for a potential total duration of up to two years. The Contract Value is approximately SAR 128.9 million associated with the one year firm period, including mobilization and demobilization.
Addax Petroleum Cameroon Company S.A., is part of Sinopec Group a major national oil company (NOC) in based in China with global presence.
Ades Jack-up rigs have a presence in other African countries, with Egypt having the largest number of jack-ups, followed by Nigeria, which has one Jack-up rig currently drilling for a Nigerian independent oil exploration and production company, Britannia-U.
