Saudi Arabia .. The arrow of “Arab drilling” increases 0.77% after the establishment of a strategic alliance

The arrow of the Arab Drilling Company, which is running and trading in the Saudi financial market “Tadawul”, rose by 0.77% to trade at the price of 105 riyals per share, after signing a memorandum of understanding in the field of international maritime digging.

The arrow of the Arab Drilling Company was traded at that time through 12.34 thousand shares with a value of trading 1.29 million riyals.

The highest price for the share at that time was at 105 riyals per share during the session, while the lowest price for the share was at 104.60 riyals per share during the Tuesday session.

The stock price increased after the Arab Drilling Company announced the signing of a memorandum of understanding with the Chlef Draling Company to establish a strategic alliance in the field of international maritime digging.

The company explained that the aim of the alliance with Chlef Drling is to publish some high -specifications of the Arab Drilling Company for the Arab Drilling Company at a global level, in addition to enhancing the scope of the operations of the two companies and their capabilities.

She pointed out that there is no direct financial impact to sign the memorandum of understanding at the present time, and any contracts that may arise from the coalition and their financial impact will be announced if they occur.

The company also emphasized that in the framework of the alliance, the Arab drilling will be able to benefit from the wide international operations network of “Chlef Draying” and its strong relations with its customers, while “Chlef Drling” will seek to use high -specifications for the Arab Drilling Company to meet the needs of its own customers.