"ADNOC for drilling" It accounts for 70% in the wild drilling of the company "SLP" In Kuwait and Oman

Abu Dhabi, May 29/ WAM/ ADNOC Drilling Company announced today, the conclusion of an agreement to acquire a 70% stake in the wild drilling of SLB in Kuwait and the Sultanate of Oman, which includes eight wild excavations that operate at full capacity under a contract with the two national oil companies in both countries.

Abdel Rahman Abdullah Al -Saeari, CEO of ADNOC Drilling Company, said that this acquisition represents an important growth step for “ADNOC for drilling”, and contributes to the consolidation of its position as one of the leading companies in the fields of digging and integrated services, and through partnership with “SLB”, “ADNOC for drilling” will establish a strong operational and financial platform that will contribute to enhancing its expansion at the regional level. It will be acquired firmly and is characterized by long -term contracts and achieves stable profits, in order to support the value of its business portfolio and expanding its scope, and confirms its continued implementation of the disciplined expansion strategy to raise performance rates, returns and growth.

Through this partnership, “ADNOC for drilling” will be able to reach profitable operations that achieve high cash flows and returns, represented by two bitch excavations working in Kuwait, and six wild excavations operating in the Sultanate of Oman, which supports the acceleration of the company’s expansion in the promising geographical scope in the Gulf Cooperation Council countries region, and enhances its ability to employ the latest technologies, integrated drilling services, digital solutions and operational efficiency AI -backed, to improve performance, reduce environmental impact, create and enhance value customers across the region.

For his part, Hesus Lamas, President of the SLB company for the Middle East and North Africa regions, said that this partnership reflects the close cooperation between the SLB and “ADNOC Drilling”, and joint commitment to enhance value and raise the efficiency of performance across the region.

He stressed his confidence that cooperation with “ADNOC Drilling” will enhance the growth of these works and raise the quality of the services provided by his company to its customers, looking to expand strategic partnerships on a broader scale with the most leading regional companies in the value chain in the energy sector, in line with the SLB strategy aimed at enhancing regional growth.

The establishment of the joint project and the acquisition of a 70% stake is subject to the completion of the deal, to obtain relevant organizational approvals, which are expected in the first quarter of 2026, while the entirely captured businesses are expected to integrate into the financial reports of “ADNOC for drilling” as of 2026, once the deal is completed and the final evaluation processes are completed by the company’s auditors.

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