Arabian Drilling signs SAR 3 billion contract with SLB Schlumberger

Arabian Drilling Company signed a new contract on August 30 with SLB Schlumberger Middle East S.A., valued at 3 billion Saudi riyals (SAR), to provide 11 onshore drilling rigs for integrated drilling operations in gas projects.

In a statement to Tadawul Saudi Arabia on Monday, the company said the five-year contract will see Arabian Drilling supply 11 onshore rigs for integrated gas drilling projects. These are the same rigs previously used in the earlier integrated gas drilling project with SLB.

The company expects the contract to begin impacting its revenues from the third quarter of 2026, and it will help ensure the continued operation of its onshore rig fleet throughout the contract period.

Arabian Drilling clarified that SLB is a major shareholder in the company, making it a related party to the contract.