ADNOC Drilling has taken a bold step into Oman’s oilfield services sector by acquiring 70% of SLB’s land drilling rigs business in the Sultanate.
Notably, this strategic $112 million transaction marks ADNOC Drilling’s first operational entry into Oman, expanding its presence beyond the UAE.
Moreover, the deal represents a significant milestone for ADNOC Drilling Oman as it aims to strengthen its regional footprint and expand future growth opportunities.
With this acquisition, the company is positioning itself as a key player in Oman’s upstream oilfield services sector and enhancing its competitive market edge.
Additionally, the move also reflects growing collaboration between Oman and the UAE in the energy industry, promoting regional stability and sustainable development.
LB, formerly known as Schlumberger, is one of the world’s leading energy service companies with a global footprint and advanced technology.
Therefore, transferring majority control of its Omani land rigs to ADNOC Drilling Oman shows strong trust in the UAE firm’s operational capabilities.
Consequently, Oman stands to benefit from ADNOC Drilling’s expertise and technology in land-based oilfield operations and enhanced operational efficiency.
Furthermore, ADNOC Drilling Oman stated that this acquisition aligns with its long-term strategy of entering high-growth markets and strengthening its global industry presence.
In addition, the firm plans to leverage this new presence in Oman to deliver efficient, high-quality services and support the country’s energy sector goals.
This agreement will likely boost local employment and enhance Oman’s technical expertise in the drilling industry, fostering economic growth as well as skill development.
It will also help diversify ADNOC Drilling Oman revenue sources while offering Oman stronger partnerships with leading regional companies.
Moreover, Oman continues to attract foreign investment in energy. This deal shows international confidence in Oman’s upstream oil and gas market. It also reinforces the Sultanate’s role as a competitive destination for energy-related projects.
