Saudi-based drilling and production services company ADES Holding has secured a $34 million offshore drilling contract in Cameroon with Addax Petroleum, marking the company’s entry into the Cameroonian market. Operations are scheduled to commence in the fourth quarter of 2025.
Under the terms of the agreement, ADES Holding will deploy the Admarine 510 offshore platform to carry out drilling and extraction operations. The initial contract term is 12 months, with two optional six-month extensions, potentially extending the duration to 24 months.
“We are pleased with the continued success of our diversification strategy, having expanded our West African footprint to include Cameroon—our 13th country of operations,” said Dr. Mohamed Farouk, CEO of ADES Holding.
“This long-term contract underscores our agility in capitalizing on new opportunities and sustaining fleet deployment across our core markets. Cameroon also offers a stable operating environment, which aligns well with our broader regional strategy.”
