Arabian Drilling Co.
TTADAWUL:238189.75
SAR
-5.55
(-5.82%)
ISIN
SA15L1I156H7
Return %
Stock
S&P 500
1Y
21.53
14.20
3Y
-48.06
81.12
5Y
- -
68.34
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- CEO
- Fahad Abdullah Al Bani
- Full Time Employees
- 6,143
- Sector
- Industrial services
- Industry
- Contract drilling
- Address
- PO Box 4110 Al-Khobar Eastern Province Saudi Arabia 31952
- IPO Date
- Nov 7, 2022
- Website
- arabdrill.com
- Similar Companies
- Business
- Arabian Drilling Company is a Saudi Arabia-based oil and gas drilling services provider specializing in onshore and offshore drilling operations. The company offers a comprehensive portfolio of drilling services including shallow and deepwater rig drilling, exploration and production drilling for oil and natural gas, well intervention and testing, rig mobilization and movement, and manpower supply. Its rig fleet comprises land rigs, offshore rigs, and specialized unconventional land rigs, supporting exploration and development activities with advanced technology and service capabilities. Headquartered in Al Khobar, Saudi Arabia, Arabian Drilling was established in 1964 and serves primarily the Saudi Arabian market, with expanding operations regionally in the Gulf Cooperation Council (GCC) area through strategic alliances. Recent major developments include the deployment of 13 new unconventional land rigs, increasing the total fleet to 59 rigs by the end of 2024, marking a significant fleet expansion of over 20% year-over-year. This growth supports Saudi Arabia’s energy transition with an emphasis on unconventional gas drilling, especially in the Jafurah gas field, the region's largest unconventional gas project. Arabian Drilling secured a one-year contract extension for 11 onshore gas drilling rigs under a lump-sum turnkey agreement with SLB (formerly Schlumberger), contributing significantly to its 2024 revenues. The company also renewed four contracts with Saudi Aramco worth over SAR 2 billion and obtained contract extensions for other rigs including offshore jackups, strengthening its backlog and operational stability. Strategically, Arabian Drilling has formed a partnership with Shelf Drilling to accelerate international expansion into lucrative markets beyond Saudi Arabia, leveraging acquisitions and contract renewals to grow its rig fleet and enhance utilization. The company’s strategic focus includes opportunistic acquisitions, activation of suspended rigs at improved day rates, and reinforcing contract visibility and stability with major energy producers. Overall, Arabian Drilling positions itself as the largest drilling services provider in Saudi Arabia by fleet size and leverages its expanded fleet and partnerships to support the Kingdom’s evolving energy landscape and regional market penetration.