Arabian Drilling’s backlog hits record SAR 16 bn on second SLB land-rig contract

Arabian Drilling adds eight rigs

Arabian Drilling’s backlog has hit a record SAR 16 bn after it signed a second contract with SLB, this one covering eight additional land rigs for gas operations, per a Tadawul filing. The five-year contract adds around SAR 2 bn in incremental backlog and follows last month’s five-year agreement for 11 rigs. Together, the two contracts add roughly SAR 5 bn to backlog and represent the largest gas lump-sum turnkey (LSTK) commitment the company has secured, keeping its 100% share of domestic gas LSTK work.

The rigs will be redeployed from Arabian Drilling's existing available fleet instead of being newly built and are expected to start contributing to revenue from 4Q 2026.

Why it matters: Backlog is forward revenue visibility, and Arabian Drilling just locked in its highest-ever backlog, entirely from domestic gas work. Redeploying idle rigs rather than building new ones also means the backlog converts to revenue without heavy fresh capital, which matters for a company that recently slipped into a loss after offshore rig suspensions.

Rent-a-robot

Chinese robotics company Agibot has launched a robot rental service in Saudi Arabia, with prices starting at SAR 2k per day, Global Account Director Shen Yuchang told Asharq Business. The price is a floor, not a fixed rate, with costs varying by robot type, equipment, and task. The model lets customers deploy robots without putting in the upfront capital required to buy them. The service will also be available in the UAE, Qatar, Kuwait, Bahrain, Oman, and Turkey.

The early adopters: Saudi Arabia could become a regional hub for robotics and embodied AI, Shen said. Manufacturing, logistics and warehousing, energy, security, and inspection are among the Saudi sectors likely to be quickest to adopt robotics, alongside education and research, entertainment, and hospitality.

Tarabut secures USD 50 mn for Saudi fintech push

fFinancial infrastructure firm Tarabut has raised USD 50 mn in strategic funding, with Riyad Bank, Alawwal Investment's X-Tech Fund, and Gulf International Bank taking part, alongside Al Zamil Group, Kanoo Investment Projects, and other regional institutions, according to a press release. The round will deepen its presence in Saudi Arabia, which it is placing at the center of a push into integrated financing solutions, the Dubai-based firm said in the press release.

What they do: Tarabut provides the infrastructure for banks and lenders to offer financing within their own platforms, from verifying customer data and assessing credit to executing the transaction. The customer stays on the institution’s platform throughout the process.

Wiring up Masarat

Emaar the Economic City will build SAR 152 mn of additional utility infrastructure for Masarat Mobility Park, the automotive logistics hub in King Abdullah Economic City's Special Economic Zone, according to a Tadawul disclosure. Emaar will design, construct, and deliver the works after Masarat requested more utility capacity than its original land agreements provided.

How the parties fit together: Masarat is the joint venture formed by four buyers — Dar Al Himmah, Zamil Group Real Estate, Abdullah Ibrahim Alkhorayef Sons, and PIF subsidiary Tasaru Mobility Investments — after buying industrial plots from Emaar in 2023 to develop the logistics hub. Emaar owns and provides the infrastructure in the zone, so when Masarat needed extra utility capacity, it contracted Emaar to build it. Because PIF is a major Emaar shareholder and Tasaru is a PIF subsidiary inside the JV, this is a related-party transaction.