We are pleased to announce that on the 28th of April 2019, Arabian Drilling Company (ADC) finalized the agreement to acquire Schlumberger Land Rigs (SLR) drilling businesses in the Middle East. This acquisition will add 18 rigs to ADC fleet and welcomes more than 1,000 employees to the ADC family when the transaction is completed.
There will be an integration phase of 6 to 9 months where we will work on transferring entities, assets and employees to ADC; during this phase we will continue operating as separate organizations and execute the integration in stages covering all aspects of operations and support functions.The new ADC will have a fleet of 67 land and offshore rigs and a workforce of more than 5,900 employees. This will represent a major step towards our corporate goal of expanding our footprint in the region and will help us go well beyond our initial objective of having 60 rigs by 2021. We will be a major player in the region and a strong Saudi company fully aligned with the Kingdom’s 2030 vision of building world class Saudi companies.
The acquisition will help us diversify our customers’ portfolio and give us access to promising markets. It will enable us to grow our employee base and will present opportunities to our employees to work in different environments and develop our talent in line with our ambitious talent development strategy.
We are confident that you share our excitement and we count on your personal contributions to make it a successful story and engrave another great chapter in ADC’s history.
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