RIYADH: Saudi-listed Arabian Drilling Co. has signed a deal with a new Gulf client, expanding its offshore operations beyond the Kingdom. The contract’s value and the parties involved were not disclosed, but operations are planned to commence before the end of the third quarter of 2026. The award is projected to enhance backlog, improve revenue visibility, and strengthen the company’s long-term profits profile.
According to a release, the transaction demonstrates Arabian Drilling’s ability to harness its offshore experience to gain new opportunities and support its long-term growth goals. The new contract followed Arabian Drilling’s successful early completion of its first international offshore drilling contract and the relocation of the jack-up rig to another Gulf Cooperation Council member country.
Arabian Drilling’s statement comes amid ongoing regional instability in the Gulf, where war between Israel, the United States, and Iran has hampered oil operations and raised concerns about the security of major supply lines, notably the Strait of Hormuz.
Fahad Al-Bani, CEO of Arabian Drilling, stated: “Securing a new contract in another GCC country after the successful completion of our first international offshore contract ahead of schedule represents an important milestone in Arabian Drilling’s growth journey.
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