CAMEROON: Ades Holding Announces Rig Contract Award with Sinopec
ADES Holding co. 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 has been awarded by Addax Petroleum Cameroon Company S.A., part of Sinopec Group, a major national oil company (NOC) for a one-year period 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. |