Riyadh – Mubasher: Arabian Drilling inked a memorandum of understanding (MOU) with Shelf Drilling Limited to deploy some of its premium jack-up rigs internationally.
The two companies will form a strategic alliance to expand their reach and capabilities, according to a press release.
Arabian Drilling will gain access to the UAE-based firm’s extensive international operating platform and diverse customer relationships.
Meanwhile, Shelf Drilling will seek to use the Saudi company’s high-specification jack-up rigs to meet specific contract requirements.
Ghassan Mirdad, CEO of Arabian Drilling, said: "We see a strong cultural fit and a common focus on the highest Health, Safety and Environmental standards. The Alliance is an exciting new opportunity to create value."
Greg O’Brien, CEO of Shelf Drilling, commented: "By leveraging Shelf Drilling’s extensive international presence, unique focus on safety, and fit-for-purpose business strategy with Arabian Drilling's premium jack-up rigs, we are well-positioned to unlock new opportunities in our core markets and drive value for our stakeholders."
Last November, the Tadawul-listed company sealed a SAR 290 million deal with Saudi Arabian Oil Company (Aramco).
