In September 2026, Arab drilling deals witnessed significant activities with the signing of 4 prominent contracts in Saudi Arabia and Oman. These developments reflect the ongoing demand for drilling services in the region and an increase in oil and gas production.
Drilling Activities in Saudi Arabia
During this month, Saudi Arabia, as one of the main hubs of drilling activities, introduced 8 land rigs and 4 offshore rigs. One of the most important contracts was the collaboration between Arab Drilling Company and SLB, aimed at supplying 8 land rigs dedicated to gas projects in Saudi Arabia. The value of this contract is approximately 2 billion Saudi Riyals (533 million dollars) and its duration is 5 years.
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These rigs will be supplied from the existing fleet of Arab Drilling and will gradually be deployed in the last months of this year and early 2027. Additionally, on September 28, Arab Drilling Company signed another contract with Khafji Joint Operations to supply 4 high-specification offshore rigs valued at 2 billion Saudi Riyals (532 million dollars).
Oman's Role in Drilling Deals
The Sultanate of Oman has also been active in these developments, with Oman Oil Company signing a comprehensive drilling services contract with Weatherford, aimed at drilling 274 wells over a period of 3 years. This contract is considered one of the largest contracts in Oman's history in terms of the number of wells. With this contractual model, drilling costs are expected to decrease by about 20%, and project execution time will also be expedited.
The total value of contracts signed in September amounts to approximately 1.35 billion dollars, which includes an acquisition contract valued at 285 million dollars signed in June and executed in September. The value of the well drilling contract in Oman has not yet been announced.
These developments indicate the diversity and dynamism of the drilling sector in the Gulf region, which includes onshore and offshore drilling contracts in Saudi Arabia and extensive drilling programs in Oman. Given the increasing demand for drilling services, this trend is expected to continue and contribute to the improvement of oil and gas production in the region.
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