Arabian Drilling Company has signed a five-year contract with SLB Middle East to provide 11 land rigs for integrated gas drilling operations in Saudi Arabia, securing one of the largest regional drilling-service awards announced this week.
The contract is valued at approximately SR3bn, equivalent to about $800mn. It was signed on August 30 and disclosed through the Saudi Exchange the following day.
The rigs previously operated under an earlier integrated drilling arrangement with SLB. Their inclusion in the new contract should allow Arabian Drilling to maintain utilisation of a substantial part of its onshore fleet without an extended mobilisation period.
Work will support gas-related lump-sum turnkey operations in the kingdom. Arabian Drilling expects the agreement to begin contributing to revenue during the third quarter of 2026 and to continue doing so over its five-year duration.
The award provides contractors and equipment suppliers with a clear indication of continued expenditure across Saudi Arabia’s gas-development chain, including drilling services, rig maintenance, logistics and supporting equipment.
Sources: Saudi Gulf Projects, Arab News, Argaam, Ajel.