The Board of Directors of the “Arab Drilling” recommends the suspension of profit distribution for the year 2025

Yesterday, the Board of Directors of the Arab Drilling Company recommended suspending the distribution of cash profits for the shareholders for the year 2025.
The company said in a statement on Saudi Arabia’s circulation: The reason for the recommendation not to distribute: due to the recent changes in the demand for drilling platforms in the Kingdom of Saudi Arabia, the company’s continued investments in its capital expenses on its fleet, and its future plans for regional expansion.
She said: “This decision will be reconsidered later when the vision is clear about the dynamics of supply and future demand on wild and marine drilling platforms.”

A new branch in the Emirates

The Arab Drilling Company announced the opening of a new branch in Sharjah, the United Arab Emirates.
According to the company’s statement, this branch will work as a base for the company’s operations regionally within the countries of the Gulf Cooperation Council and beyond.
The opening of the Sharjah branch comes as part of the company’s strategic initiative to enhance its operations and improve the provision of services in international markets.
According to the company’s statement on the circulation of Saudi Arabia, by referring to the meeting of the Board of Directors held on 07/28/2025 and the meeting of the Nominations and Rewards Committee, during which during which the regular requirements were discussed and studied related to the end of the current board of directors, according to the company’s system and the company’s corporate system.
As the third paragraph of the membership policy and procedures in the board of directors stipulates the procedures related to the membership of the Council, as Article (17) of the company’s basic system and the company’s management stipulated that the board of directors manage the company’s management for a period not exceeding four years.
According to paragraph (1) of the nineteenth article of the basic system, which states the following:
Before the end of its session, the Board of Directors must invite the ordinary general assembly to hold to elect a board of directors for a new session.
The Board of Directors, in compliance with the regulatory requirements referred to above, agrees to start the nomination procedures for membership of the Board of Directors, for a new session that starts from the date of 2/11/2025 and ends on 11/11/2029.