Saudi Arabia's Arabian Drilling Company Expands into Oman with New Offshore Contract
Arabian Drilling, Saudi Arabia’s largest drilling company (ticker: 2381.SR), has secured a new offshore contract in Oman for up to four wells. The deal was signed with Masirah Oil Limited and Northern Offshore Ltd, covering two firm wells plus two optional ones. Operations are expected to begin before the end of Q3 2026. The agreement supports Arabian Drilling’s strategy to expand beyond its domestic market and strengthen financial performance in 2026 by boosting backlog and revenue visibility. The project is part of a broader regional push following successful offshore work completed earlier this year, with plans for further deployment across the Gulf Cooperation Council region. Masirah Oil holds full interest in Block 50 near Oman’s east coast, home to the Yumna oil field which has seen declining production recently. The drilling campaign aims to sustain and increase output from the aging asset.
Topics: contract award international expansion oil drilling Oman energy