The ADNOC Drilling will acquire an 80% stake in MB Petroleum Services, marking its second regional acquisition. This move accelerates the company’s expansion across the Gulf energy services market. The deal will add 21 rigs and a portfolio of oilfield services contracts in Oman, Kuwait, Saudi Arabia, and Bahrain, subject to regulatory approvals.
The company said the acquisition will boost earnings, cash flow, and returns. Additionally, it strengthens ADNOC Drilling’s position in four key Gulf economies as spending on upstream capacity and integrated services rises.
Abdulla Ateya Al Messabi, the ADNOC Drilling CEO, said, “The transaction represents a strategic leap that will amplify our capabilities, accelerate our regional momentum, and reinforce our position as a leading energy services provider in the region.”
He added, “Upon completion, this partnership will strengthen our footprint and allow us to deliver greater value to clients and shareholders in a rapidly evolving energy landscape.”
The acquisition allows ADNOC Drilling to expand its oilfield services portfolio across multiple Gulf countries. Consequently, the company can provide integrated solutions for upstream operations while meeting growing regional energy demands. This strategic growth supports long-term sustainability in a competitive market.
Furthermore, the deal enhances ADNOC Drilling’s operational efficiency. By integrating MB Petroleum’s existing rigs and contracts, the company can optimize resource deployment. This approach also reduces operational redundancies and accelerates project delivery for clients across the Gulf.
Additionally, the acquisition strengthens ADNOC Drilling’s position with key stakeholders. Investors, clients, and partners gain confidence from the expanded regional footprint and enhanced service capabilities. As a result, ADNOC Drilling is better positioned to capitalize on future growth opportunities in the Gulf energy sector.
The acquisition reflects ADNOC Drilling’s commitment to expanding its operational reach and service portfolio across the Gulf. By integrating MB Petroleum’s assets, the company can offer more comprehensive oilfield services and tap into new regional markets.
Moreover, the deal positions ADNOC Drilling to respond quickly to rising demand in upstream activities. It also enhances the company’s ability to execute large-scale projects efficiently across multiple countries.
This acquisition is part of ADNOC Drilling’s broader strategy to lead the Gulf’s energy services sector. By combining resources and expertise, the company aims to deliver innovative, high-quality solutions to its clients.
