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Al-Hafar Al-Arabiya Signs 2B Riyal Contract
Al Occean Drilling Company has signed a 2-billion riyal contract with the Khafji Joint Operations, extending over four years. The contract aims to enhance operational capabilities in the region and includes the provision of four advanced offshore drilling rigs to support coastal operations. This is the largest offshore drilling contract awarded to Al Occean Drilling Company and will increase the company's fleet in the Khafji area by up to 200%. Its financial impact is expected to begin reflecting in the company's results by the end of the fourth quarter of 2026, strengthening the company's position and its ability to meet the requirements of the giant oil sector.
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