ADNOC Drilling enters Oman market in $112m deal
Muscat : In a strategic move set to reshape Oman's upstream oilfield services landscape, ADNOC Drilling has acquired a 70% stake in SLB's land drilling rigs business in the Sultanate, marking the UAE-based firm's first operational entry into the Omani market.
The deal involves the transfer of six fully operational land rigs in Oman, all under contract with national operators, including Petroleum Development Oman (PDO).
The acquisition is part of a wider $112 million agreement between ADNOC Drilling and SLB (formerly Schlumberger), and is expected to close in the first quarter of 2026, pending regulatory approvals.
'This acquisition provides ADNOC Drilling with an immediate footprint in Oman's high-growth drilling market, supported by long-term contracts and a stable operating environment,' the company said in a statement.
The rigs are currently deployed in core oilfields that form part of Oman's energy backbone.
ADNOC Drilling aims to scale up operations, introduce digital drilling optimisation tools, and enhance rig performance through AI-enabled platforms.
The deal aligns with Oman's Vision 2040 goals to attract regional investment, boost in-country value (ICV), and enhance efficiency in hydrocarbon production.
It also comes as the Ministry of Energy and Minerals accelerates upstream development, particularly in mature oil blocks requiring enhanced recovery and cost-effective drilling.
Industry analysts say ADNOC Drilling's entry is a significant vote of confidence in Oman's upstream sector.
With a majority of the assets located in Oman, the acquisition reaffirms the Sultanate's importance as a strategic energy partner in the Gulf.
'Beyond rig deployment, ADNOC Drilling's model includes integrated drilling services, digital workflows, and regional supply chain development—bringing advanced capabilities to Oman's oilfields,' said an energy analyst based in Muscat.
The investment is expected to support Omani SMEs and contractors through subcontracting and local procurement.
It could also generate new employment opportunities for Omani nationals in rig operations, logistics, and technical services.
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