Arabian Drilling signs SAR 3 billion contract with SLB Schlumberger

Arabian Drilling has secured a substantial contract with SLB Schlumberger Middle East, worth SAR 3 billion, to supply 11 onshore drilling rigs for gas projects. The agreement was signed on August 30 between Arabian Drilling Company and SLB Schlumberger Middle East S.A. The five-year contract will see the company providing these rigs for integrated drilling operations in gas projects, utilizing rigs previously employed in a previous integrated gas drilling project with SLB.

The company anticipates that the contract will start affecting its revenues from the third quarter of 2026, ensuring the continued operation of its onshore rig fleet throughout the contract period. It is noteworthy that SLB is a major shareholder in Arabian Drilling, making it a related party to the contract.