Arabian Drilling secures SAR 250m deal to expand in GCC region
· Egyptian market news
Arabian Drilling has signed a new offshore drilling contract valued at approximately SAR 250 million with a client in the GCC region.
The agreement marks the company’s expansion into a new geographical market within the GCC, utilizing its jack-up offshore drilling rigs to support regional growth.
The contract involves providing shallow-water offshore drilling services. Operations are scheduled to commence before the end of the third quarter (Q3) of 2026.
According to the company, the deployment follows the early completion of its first international offshore contract, allowing the firm to redeploy the specific offshore rig to this new jurisdiction.
This expansion aligns with the company’s strategic objectives to diversify its regional presence and leverage its technical expertise in offshore operations.
The deal is expected to strengthen the group’s total backlog and is expected to enhance future revenue and long-term financial performance.
In the first half (H1) of 2026, the company posted revenues amounting to SAR 1.59 billion.
Established in 1964, Arabian Drilling is the largest drilling contractor in Saudi Arabia by fleet size. Major shareholders in the firm include the Industrialization and Energy Services Company (TAQA) and Services Petroliers Schlumberger (SLB).