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Al-Hafar Al-Arabiya secures 2B Riyal Khafji deal
Arab Drilling Company signed a contract valued at approximately 2 billion riyals with the Khafji Joint Operations. This is the largest offshore drilling contract in the company's history, spanning four years. The goal of the contract is to enhance operational capabilities in the region and includes the provision of four advanced offshore drilling rigs to support offshore field operations in Khafji. The expansion will increase the company's fleet in the area by up to 200%, with financial impacts beginning at the end of the fourth quarter of 2026, ensuring sustainable cash flows throughout the contract duration. Officials emphasize that this expansion reflects the growth strategy in the energy sector and strengthens its market share within the Kingdom.
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