Arabian Drilling and Shelf Drilling Sign MoU to Expand Global Offshore Operations

Arabian Drilling and Shelf Drilling, Ltd. have announced the signing of a Memorandum of Understanding (MOU) to form a strategic partnership to deploy Arabian Drilling's high-end jack-up rigs worldwide. This partnership will leverage the strengths of both companies to expand their reach and enhance their operational capabilities.

Arabian Drilling, Saudi Arabia's largest drilling firm by fleet size, has onshore and offshore rigs.Shelf Drilling, a top global contractor with shallow water offshore drilling expertise, has operations in several geographic areas, including the Middle East, Southeast Asia, India, West Africa, the Mediterranean, and the North Sea.

Arabian Drilling will benefit from the established international operating platform and diversified clients of Shelf Drilling via the new alliance. In exchange, Shelf Drilling will utilize Arabian Drilling's sophisticated rigs, combining knowledge in order to provide superior services to customers

Using Expertise to Expand

Ghassan Mirdad, CEO of Arabian Drilling, said, "The Alliance gives us a clear path to execute our strategy to develop an international footprint. Shelf Drilling’s expertise and international presence will bring our advanced, high-specification rigs to new markets. 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, stated that the Alliance represents a significant step in their commitment to operational excellence and delivering top-tier services to their customers. He explained that by leveraging the company's extensive international presence, focus on safety, and business strategy, alongside Arabian Drilling's premium jack-up rigs, the companies are well-positioned to unlock new opportunities in their core markets and create value for their stakeholders.

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Creating Value and Enhancing Opportunities

This partnership brings together resources and capabilities, making both companies more competitive and capable of providing better services across the world. Arabian Drilling and Shelf Drilling are enhancing their market reach and capabilities and are looking forward to making a global presence