|29 April, 2019

Saudi ADC acquires Schlumberger's offshore drilling platforms

This deal also forecasts to boost Arabian Drilling Company’s supplies

Image used for illustrative purpose. Pipelines are seen at the TOTAL oil refinery on January 10, 2007 in Leuna, Germany.

Image used for illustrative purpose. Pipelines are seen at the TOTAL oil refinery on January 10, 2007 in Leuna, Germany.

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Riyadh –  Arabian Drilling Company (ADC) has acquired offshore drilling platforms owned by Schlumberger in the Middle East region, namely in Kuwait, Oman, Iraq, and Pakistan.

This acquisition is expected to boost ADC’s business by establishing a leading national company in the regional market to invest in drilling and maintaining oil barrels, according to a statement on Monday.

This acquisition will also contribute to enhancing ADC’s presence in the oil industry, reflecting positively on the Saudi Arabian Oil Co's (Aramco) operations in the drilling business, Aramco’s CEO Amin Nasser said.

Source: Mubasher

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