ADNOC Drilling Expands with 70% Stake in SLB’s Land Drilling Business

ADNOC Drilling Strengthens Regional Reach with SLB Partnership

ADNOC Drilling has announced a strategic deal to acquire a 70% stake in SLB’s land drilling rigs business in Kuwait and Oman.
This acquisition includes eight fully operational rigs—two in Kuwait and six in Oman—already under contract with national oil companies.
The partnership gives ADNOC Drilling immediate access to earnings, cash flow, and market share in key Gulf geographies.

In addition, ADNOC Drilling aims to enhance its service capabilities with integrated drilling solutions, digital tools, and AI-driven technologies.
CEO Abdulrahman Abdulla Al Seiari emphasized the move as a value-accretive step that supports ADNOC Drilling’s disciplined regional growth plan.
He stated that the rigs operate under long-term contracts, adding stability and profitability to the company’s portfolio.

SLB and ADNOC Drilling Align for Regional Growth

SLB will retain a 30% stake in the joint venture and continue to collaborate closely with ADNOC Drilling.
Jesus Lamas, SLB’s President for Middle East and North Africa, called the deal a “testament to strong collaboration and shared growth goals.”
The JV is set to accelerate broader partnerships across the regional energy value chain.

Meanwhile, the deal is pending standard regulatory approvals, expected to close in Q1 2026.
Once finalized, ADNOC Drilling will fully consolidate the newly acquired operations into its financial reports.
The company continues to pursue strategic acquisitions that bolster its position in the oilfield services sector.

SuperMetalPrice Commentary:

This acquisition signals ADNOC Drilling’s deepening footprint in the Middle East’s land drilling market.
By integrating SLB’s regional assets, ADNOC gains access to long-term contracts and cutting-edge technology. They also secure a strong financial base.
This move reflects a broader trend in the energy sector, where firms seek regional synergies and digital innovation to maintain competitiveness.
As upstream investment rebounds, ADNOC Drilling’s focus on scale and efficiency puts it in a strong position for 2026. They are prepared for the future and beyond.