Arabian Drilling signs MoU with Shelf Drilling for strategic alliance

An ADC offshore rig

Arabian Drilling Co. signed on Feb. 17 a memorandum of understanding (MoU) with Shelf Drilling Co. to establish a strategic alliance in international offshore drilling.

In a statement to Tadawul, ADC said the alliance aims to deploy certain Arabian Drilling premium jack-up rigs internationally and expand the reach and capabilities of both companies.

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The MoU has an indefinite period, and there is no immediate financial impact.

Through this alliance, ADC will gain access to Shelf Drilling's extensive international operating platform and diverse customer relationships. Shelf Drilling will gain access to ADC’s state-of-the-art, high-specification jack-up rigs.

By combining resources, technical expertise and operational excellence, the alliance is well positioned to deliver outstanding services to customers and boost the competitive capabilities of both companies, the statement added.

ADC will disclose any contracts secured by the alliance, along with their financial implications, as they arise.