Ades Holding Co. Announces Contract Award with Addax Petroleum Cameroon Company S.A
| Element List | Explanation |
|---|---|
| Date of the Award | 2025-05-30 Corresponding to 1446-12-03 |
| Counterparty | Addax Petroleum Cameroon Company S.A |
| Contract Value | Approximately SAR 128.9 million associated with the one year firm period, including mobilization and demobilization. |
| Contract Details | 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. Contract Scope and Duration: The contract has been awarded by Addax Petroleum Cameroon Company S.A., part of Sinopec Group, a major national oil company (NOC). A one-year firm contract, commencing in Q4 2025, with two optional six-month extensions at mutually agreed rates, for a potential total duration of up to two years. |
| Related Parties | Not Applicable |
| Attached Documents |  |
