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Saudi Arabian Drilling secures offshore contract in Oman for up to four wells
The agreement with Masirah Oil Limited and Northern Offshore Ltd calls for two firm wells and two optional wells, with operations expected to start before the end of the third quarter of 2026.
Saudi Arabia’s Arabian Drilling Company has signed an offshore drilling contract in Oman that covers as many as four wells, extending its activity beyond its domestic market, Yahoo Finance reports. The Saudi-listed contractor secured the deal with Masirah Oil Limited and Northern Offshore Ltd for two firm wells plus two optional wells, with operations expected to begin before the end of the third quarter of 2026.
Arabian Drilling did not disclose the contract value, but said the project is expected to contribute to its 2026 financial results and strengthen its backlog and future revenue visibility. The contract follows the early completion of the company’s first international offshore assignment and the redeployment of its jack-up rig within the Gulf Cooperation Council region.
The new campaign is tied to Oman’s Block 50 in the Arabian Sea off the east coast, where Masirah Oil holds a 100% interest in the concession and the Yumna oil field. Yumna achieved first oil in February 2020 and had produced about 9.07 million barrels cumulatively by the end of 2024, though production later declined.
In March 2026, Block 50 output averaged around 742 barrels per day, down from 854 bpd in January 2026, according to the report. Masirah Oil has been working to sustain output and improve recovery from the field, making additional development drilling a priority, and Arabian Drilling said the agreement supports its regional expansion plans.