Saudi Arabia’s Biggest Driller Expands Into Oman

Saudi Arabia's leading drilling firm, Arabian Drilling Company, has secured a major offshore drilling contract in Oman. The agreement, with Masirah Oil Limited and Northern Offshore Ltd, covers up to four wells, including two firm and two optional. Operations are set to commence by the third quarter of 2026. While the contract value remains undisclosed, Arabian Drilling anticipates it will bolster its 2026 financials and bolster its pipeline of projects.

This move follows Arabian Drilling's successful completion of its initial international offshore assignment and subsequent deployment of its jack-up rig to another Gulf Cooperation Council region. The new contract could bolster Oman's Block 50, located in the Arabian Sea off the east coast, which currently hosts the Yumna oil field.

Masirah Oil holds a 100% stake in this concession, which includes the Yumna field that began producing oil in February 2020 and had produced around 9.07 million barrels by the end of 2024. However, production has since declined.

Block 50's output averaged roughly 742 barrels per day in March 2026, down from 854 bpd in January. Masirah Oil has been striving to maintain Yumna's production and increase recovery from the field, emphasizing the importance of additional development drilling. Arabian Drilling's involvement in this project marks another step in its strategy to establish a wider regional presence.

CEO Fahad Albani stated the company's continued focus on sustainable growth, long-term shareholder value creation, and adapting to the evolving energy sector needs in the region.

The Oman campaign provides Arabian Drilling with another platform to demonstrate its offshore fleet's competitiveness beyond Saudi Arabia as drilling activity intensifies across Gulf markets. Oilprice Intelligence brings its subscribers expert analysis, signals, and geopolitical intelligence before they become mainstream news. The service offers insights into market movements and hidden inventory data, keeping subscribers ahead in the energy sector.