We recently signed an agreement with ADNOC Drilling, through which ADNOC Drilling will acquire a 70% stake in SLB’s land drilling rigs business in Kuwait and Oman.

The agreement encompasses eight fully operational land rigs under contract with the respective national oil companies of both countries.

Why it matters

“This partnership reflects the strong collaboration between SLB and ADNOC Drilling, and our shared commitment to driving value through collaboration across the region,” said Jesus Lamas, president of Middle East and North Africa at SLB. “We are confident that, working together with ADNOC Drilling, this business will continue to grow and deliver outstanding performance for our customers. We look forward to expanding our broader strategic partnerships with key regional leaders across the energy value chain, in line with SLB’s focused regional growth strategy.”

Tell me more

The transaction is subject to customary regulatory approvals and is expected to close by Q1, 2026.

Read more here