Saudi Arabia’s Arabian Drilling Company has signed a 5-year contract worth approximately US $800mn with SLB for the provision of 11 land rigs for gas-related lump-sum turnkey (LSTK) operations.
Arabian Drilling will provide 11 land rigs for Gas LSTK operations. The rigs are the units currently deployed under the previous Gas LSTK project with SLB.
The contract is expected to contribute to Arabian Drilling’s revenues from the third quarter of 2026 and will support continued utilisation of the company’s land drilling fleet throughout the five-year contract period.
The company said the new agreement would help maintain utilisation of its land rig fleet and provide revenue visibility over the duration of the contract.
SLB is one of the major shareholders of Arabian Drilling, making it a related party to the transaction.
The contract comes as Saudi Arabia continues to expand its natural gas production capacity as part of efforts to diversify its energy mix and meet rising domestic demand for gas.
