Arabian Drilling signs five-year deal for 11 gas rigs with SLB
Arabian Drilling signed a new five-year contract with SLB Middle East for 11 land rigs to support gas lump sum turnkey operations in Saudi Arabia, worth approximately $800 million.
The 11 rigs are the incumbent units already deployed under Arabian Drilling’s previous gas LSTK project with SLB, which had been under a one-year contract extension signed in August 2025. The new five-year agreement is expected to begin contributing to Arabian Drilling’s revenue from the third quarter of 2026 and will support continued utilization of the company’s land rig fleet through the contract period.
SLB holds a 34% stake in Arabian Drilling and is considered a related party to the contract. The deal follows Arabian Drilling’s push to expand internationally, including a contract signed in August with Masirah Oil Limited and Northern Offshore Ltd for two firm and two optional wells in Oman.
