Arabian Drilling, Saudi Arabia’s largest drilling contractor by fleet size, has signed a contract with a GCC-based company for its first offshore operation outside Saudi Arabia.
The deal, signed with an undisclosed GCC-based energy company, is primarily for offshore exploration drilling.
Operations are scheduled to begin in the first quarter of 2026 and will initially contribute SAR 75 million ($20 million) to Arabian Drilling, the company said.
The preliminary drilling of exploration wells is expected to be completed within a period from five to seven months.
Based on the results from the exploration campaign, the contract could potentially be extended, according to Arabian Drilling.
"Signing this contract signifies a strategic milestone for Arabian Drilling as it marks our first major step in expanding our operational footprint internationally.
“We are on the verge of fulfilling what we promised, and I am confident in our team's ability to deliver exceptional value through this important step, which we see as the beginning of many future contracts.
“As we witness the unfolding events of this year, we are preparing to take significant steps to implement a major transformation with the aim of becoming a stronger and more flexible company, with a sustainable financial structure, and we look forward to facing the future with confidence, aiming to achieve long-term sustainable returns for our shareholders,” said Ghassan Mirdad, Chief Executive Officer of Arabian Drilling.
In line with its strategic objectives, Arabian Drilling has taken significant steps to fortify its financial foundation and ensure long-term sustainability. The recent acquisition of a new service vessel, coupled with the planned geographic expansion into the GCC region, are pivotal components of this strategy.
These initiatives are designed to diversify Arabian Drilling’s sources of revenue, reducing reliance on its traditional markets and enhancing its resilience against sector-specific risks and economic fluctuations.