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Addis Signs Offshore Drilling Contracts in the UK and Nigeria Valued at Over 858 Million Riyals
Addis Holding Company announced the signing of two offshore drilling contracts with a total value exceeding 858 million Riyals. One of these contracts is in the UK sector of the North Sea with NEO NEXT+ Energy E&P UK Limited, involving the drilling of two wells for a period of no less than 550 days, with work expected to commence in the fourth quarter of 2026. The other contract is with Seplat Energy in Nigeria, valued at approximately 375 million Riyals, encompassing two years of offshore rig platform operations with an option to extend, with implementation scheduled to begin in the first quarter of 2027. These contracts aim to support the company’s expansion efforts and strengthen its presence in the offshore drilling market.
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