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Element List	Explanation
Date of Announcement of the Award	2026-04-30 Corresponding to 1447-11-13
Contract Subject Matter	Contract For Offshore Drilling Services
The Entity with Which the Contract was Signed	Seplat Energy Producing Nigeria unlimited
Date of Signing the Contract	2026-04-30 Corresponding to 1447-11-13
Contract Value	The total contract value for the firm period only including mobilization and demobilization fees is approximately SAR 347.6 million (USD 92.7 million), inclusive of ADES’ in-country partner’s share.
Contract Details	ADES Holding Co. announce that it has secured a contract for Shelf Drilling Victory in Nigeria from a local independent oil and gas company, for a firm period of two years with two unpriced optional extension periods of one year each. The secured contract underline ADES' confidence in the Nigerian market and cement the Company's regional leadership, while further advancing its international diversification strategy. This follows the recent WAEP contracts signing in Nigeria for three premium jackup rigs, reaffirming ADES' conviction in Nigeria as a high-growth market for drilling and upstream activity — underpinned by rising energy demand, national production targets, and increased investment in offshore exploration and field development.
Contract Duration	The contract duration for Shelf Drilling Victory is a two-year firm period, with two unpriced optional extension periods of one year each.
Financial Impact and the Relevant Period	Operations for the rig are expected to commence in H2 2026 after it finishes its current campaign in the country.
Related Parties	N/A
Attached Documents	Attached Documents

ADES signs a contract for Shelf Drilling Victory in Nigeria, solidifying its presence in the region