Saudi Arabia's Arabian Drilling Company has secured a new offshore drilling contract in Oman covering as many as four wells, extending the company's push beyond its domestic market.
The Saudi-listed drilling contractor signed the agreement with Masirah Oil Limited and Northern Offshore Ltd for two firm wells plus two optional wells. Operations are expected to begin before the end of the third quarter of 2026.
Arabian Drilling did not disclose the contract value but said the deal is expected to contribute to its 2026 financial results and strengthen its backlog and future revenue visibility.
The contract follows the early completion of Arabian Drilling's first international offshore **** ignment and the subsequent redeployment of its jack-up rig elsewhere in the Gulf Cooperation Council region.
The new campaign could also provide a boost to Oman's Block 50, located in the Arabian Sea off the country's east coast. Masirah Oil holds a 100% interest in the concession, which contains the producing Yumna oil field.
#saudi #Oman
The Saudi-listed drilling contractor signed the agreement with Masirah Oil Limited and Northern Offshore Ltd for two firm wells plus two optional wells. Operations are expected to begin before the end of the third quarter of 2026.
Arabian Drilling did not disclose the contract value but said the deal is expected to contribute to its 2026 financial results and strengthen its backlog and future revenue visibility.
The contract follows the early completion of Arabian Drilling's first international offshore **** ignment and the subsequent redeployment of its jack-up rig elsewhere in the Gulf Cooperation Council region.
The new campaign could also provide a boost to Oman's Block 50, located in the Arabian Sea off the country's east coast. Masirah Oil holds a 100% interest in the concession, which contains the producing Yumna oil field.
#saudi #Oman
2 months ago
