Saudi Arabia’s Industrialization and Energy Services Company (TAQA) announced Sunday that its drilling subsidiary, Arabian Drilling Company (ADC), has agreed to acquire Schlumberger’s Middle East onshore drilling rigs business in Kuwait, Oman, Iraq and Pakistan for $415 million (SAR 1.56 billion). [Read more…] about Saudi Arabia’s TAQA drilling subsidiary agrees to acquire Schlumberger’s Mideast drilling rigs business for $415 million
ARO Drilling was awarded six three-year contracts by Saudi Aramco for Rowan jack-up rigs currently operating in Saudi Arabia.
[Read more…] about ARO wins 18 years worth of offshore drilling contracts
Saudi Arabia intends to invest as much as $10 billion in South Africa’s economy, with a focus on energy.
[Read more…] about Saudi Arabia invests $10 billion in South Africa
The Saudi Arabian Oil Co. said this week it established a joint venture with international partners to support the offshore oil and gas sector.
[Read more…] about Saudi Arabia rolls out $5.2 billion offshore support facility
A press release from the finance ministry forecast expenditures of the riyal-equivalent of $224 billion in fiscal 2016, compared with actual spending estimated at $260 billion in 2015. The 2015 estimate is 13% over budget and almost 15% below the 2014 actual level.