‎Arabian Drilling signs SAR 2B contract with SLB for 8 land rigs

‎<p><img src="https://argaamplus.s3.amazonaws.com/92678f4d-147a-4836-a871-54cc041155e4.png"></p> <p class="ckeCaption" >The five-year contract will add nearly SAR 2 billion to Arabian Drilling backlog</p> <hr> <p ><a href="https://www.argaam.com/en/tadawul/tasi/arabian-drilling" target="_blank">Arabian Drilling Co.</a>signed a new SAR 2 billion contract with SLB Schlumberger Middle East SA to provide eight additional land rigs for LSTK operations for gas projects.</p> <p ></p> <p >In a statement to <strong>Tadawul</strong>, the company said the five-year contract will add approximately SAR 2 billion to its backlog.</p> <p ></p> <p >The rigs will be redeployed from the company’s available land rig fleet, bringing its total backlog to around SAR 16 billion.</p> <p ></p> <p >The contract is expected to contribute to revenue starting in Q4 2026, the statement added, noting that SLB is a related party to the contract, as it is one of Arabian Drilling's major shareholders.</p> <p ></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr > <td colspan="2" > <p ><strong>Contract Details</strong></p> </td> </tr> <tr > <td > <p ><strong>Item</strong></p> </td> <td > <p ><strong>Details</strong></p> </td> </tr> <tr > <td > <p ><strong>Parties</strong></p> </td> <td > <p >Arabian Drilling and SLB Schlumberger</p> </td> </tr> <tr > <td > <p ><strong>Subject</strong></p> </td> <td > <p >Providing 8 additional land rigs for LSTK operations for gas projects</p> </td> </tr> <tr > <td > <p ><strong>Value</strong></p> </td> <td > <p >SAR 2 billion</p> </td> </tr> <tr > <td > <p ><strong>Duration</strong></p> </td> <td > <p >5 years</p> </td> </tr> <tr > <td > <p ><strong>Method</strong></p> </td> <td > <p >The rigs will be redeployed from the company's available land rig fleet</p> </td> </tr> <tr > <td > <p ><strong>Financial impact</strong></p> </td> <td > <p >The contract will contribute to revenue starting from Q4 2026</p> </td> </tr> <tr > <td > <p ><strong>Related party</strong></p> </td> <td > <p >SLB, as it is one of Arabian Drilling's major shareholders</p> </td> </tr> </tbody> </table> <div ></div> <p >According to data available on <strong >Argaam</strong>, Arabian Drilling signed a new five-year contract with SLB Schlumberger Middle East in August to provide 11 land rigs for LSTK operations for gas projects, at a total value of approximately SAR 3 billion.</p> <p ></p> <p >Accordingly, the two contracts will provide a total of 19 rigs, with a combined contract value of SAR 5 billion.</p> <p ></p> <p ></p>

Publication

Argaam - Company Disclosures · Stock Exchange/Regulatory Announcements

Published

14th September 2026

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argaam.com

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