Riyadh — Mubasher: Arabian Drilling signed a major offshore drilling contract with Al Khafji Joint Operations valued at approximately SAR 2 billion.
Under the terms of the four-year agreement, the company will provide four high-specification jack-up rigs to support offshore drilling operations.
The contract, signed on 28 September 2026, represents the largest single offshore drilling award granted to the company by Al Khafji Joint Operations.
This expansion results in a 200% increase in the number of the company's rigs serving the joint venture.
Consequently, Arabian Drilling’s total order backlog has reached a record level of approximately SAR 18 billion.
Management expects the financial impact of the new contract to begin appearing in the company’s financial results starting from the end of the fourth quarter (Q4) of 2026.
Founded in 1964, Arabian Drilling continues to expand its fleet to meet the growing demand for offshore energy services in the region.
Earlier this month, the listed company inked a five-year contract valued at SAR 2 billion with Schlumberger Middle East S.A. (SLB).
