Arabian Drilling Secures Contract Extension for Gas Land Rigs With SLB

Arabian Drilling, Saudi Arabia’s largest drilling contractor by fleet size, announced the signing of a one-year extension for all eleven LSTK (Lumpsum Turnkey) gas land rigs with SLB, with a total contract value between 15.0% to 20.0% of the Company’s 2024 revenues.

During Q2 2025, the Company announced renewal for six rigs securing a total backlog intake in excess of SAR 2.4 billion, which constitutes the single largest quarterly backlog intake since Q3 2023.

SLB, which owns 34.3% of Arabian Drilling, has demonstrated its continued trust in Arabian Drilling’s ability to fulfill gas LSTK drilling contracts in the past years. This agreement underlines the essential need for these rigs and highlights Arabian Drilling’s exceptional service quality.

Ghassan Mirdad, Chief Executive Officer of Arabian Drilling, expressed his views on the extension: “This extension reinforces our market position as a preferred partner in the energy sector. Our ability to secure this extension is a testament to our client’s confidence in our capabilities and the consistent, high-quality service we deliver. This showcases our operational strength and paves the way for future growth and success in a competitive environment. Extending the contract confirms our commitment to excellence and strategic insight, which are crucial in maintaining valuable, long-term partnerships within the industry.”

As of January 1, 2025, Arabian Drilling had twenty-four rigs due for contract renewal in 2025. With this extension, the Company has two remaining rig contracts subject to renewal this year.