Adnoc Drilling is acquiring a 70% stake in SLB’s land drilling rigs business in Kuwait and Oman, which comprises eight rigs; six in Oman and two in Kuwait. The $112mn transaction is expected to close in 1Q 2026. The firm sees partnering with existing operators as helping de-risk country entry (MEES, 11 April), and CFO Youssef Salem says further such JVs are a possibility.
All rigs are under contract with the country’s respective NOCs – Kuwait Oil Company (KOC), where SLB operates in the northern region, and Oman’s PDO which operates Block 6. Six of the eight rigs are under contract until late-2028, with the opportunity to extend. (CONTINUED - 135 WORDS)