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Arabian Drilling Wins $795mn Five-Year Contract from SLB

Arabian Drilling Company has secured a new five-year contract from SLB valued at approximately SAR 3 billion for the provision of 11 land drilling rigs for Gas LSTK operations in Saudi Arabia.

The contract represents a major award for Arabian Drilling and strengthens the company’s long-term revenue visibility and operational backlog. The 11 rigs covered under the agreement are the incumbent units currently deployed under the existing Gas LSTK project with SLB.

Under the new contract, Arabian Drilling will provide 11 land rigs and associated drilling services to support SLB’s Gas LSTK operations. The rigs will continue to be utilized for gas drilling activities, supporting the development of Saudi Arabia’s gas resources and the Kingdom’s broader energy-sector objectives.

The five-year contract, valued at approximately SAR 3 billion, is expected to begin contributing to Arabian Drilling’s revenues from the third quarter of 2026. The award will also support continued utilization of the company’s land drilling fleet throughout the contract period.

The contract further strengthens the long-standing relationship between Arabian Drilling and SLB and reinforces Arabian Drilling’s position as a leading drilling services provider in Saudi Arabia.

According to Arabian Drilling, the award reflects its established operational track record, strong customer relationships, and ability to deliver high-quality and efficient drilling services in support of the Kingdom’s growing energy requirements.

Fahad Albani, Chief Executive Officer of Arabian Drilling, said the contract provides greater visibility over future revenues and demonstrates the customer’s confidence in the company’s operational performance, service quality, and commitment to safe and efficient execution.

The latest award is expected to contribute to the continued development of Saudi Arabia’s gas sector while providing Arabian Drilling with a significant long-term backlog and supporting the company’s strategy of creating sustainable value for its shareholders.

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