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Al-Hafar Arabia signs 8-rig gas project contract
Arabian Drilling Company has signed a contract with SLB Schlumberger Middle East to supply eight new onshore drilling rigs dedicated to gas projects, with a total value of up to 2 billion Riyals. This move aims to enhance drilling operations within gas projects across the kingdom. The financial impact of the contract is expected to appear in the company's financial statements starting from the fourth quarter of 2026. It will increase the company's cumulative backlog to 16 billion Riyals and will include a total of 19 onshore rigs after adding the new rigs and previous contracts. Additionally, the company will secure a full market share of drilling operations for local gas projects.
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