ADES Secures Cameroonian Offshore Drilling Contract

Saudi drilling and production services company ADES Holding has secured a $34 million offshore drilling contract in Cameroon with petroleum industry corporation Addax Petroleum. The deal signals ADES Holding’s entry into the country, with operations set to start in Q4, 2025.

ADES Holding will utilize the Admarine 510 offshore platform to conduct drilling and extraction operations, with the contract covering a period of 12 months. Two optional extensions are also included in the contract, comprising six-month each for a total potential duration of 24 months.

“We are pleased with the continued success of our diversification strategy having further expanded our West Africa footprint into Cameroon – our 13^th country of operations. The award of this long-term contract reinforces our ability to respond quickly to new opportunities and sustain fleet deployment across our core markets. Cameroon also offers a stable operating environment, which complements our broader regional strategy,” stated Dr. Mohamed Farouk, CEO of ADES Holding.