Arabian Drilling signs deal with SLB to provide 11 land rigs, adds SAR 3 bn to backlog

Arabian Drilling gets five-year runway from SLB

Arabian Drilling has signed a five-year contract with SLB to provide 11 land rigs for gas operations, adding roughly SAR 3 bn to its backlog, according to a Tadawul disclosure. The gas-related lump-sum turnkey (LSTK) rigs are the same units already working on the previous SLB gas project, with income flowing from 3Q 2026 through 2031.

REMEMBER- These same 11 LSTK gas rigs were on a one-year extension with SLB signed in August 2025 (pdf). That agreement followed a 2025 renewal of six rigs that brought in more than SAR 2.4 bn in backlog. The new five-year term replaces that rolling short-term arrangement with a longer commitment. SLB owns 34.3% of Arabian Drilling.