Al-Hafar Al-Arabiya resumes rig work

Arabian Drilling Company has resumed offshore drilling rig operations that were previously suspended, with expectations that the fleet's operating rate will reach 100% by the end of the third quarter of 2026. This comes as part of the recovery in the offshore drilling sector activity, with the CEO confirming that this return reflects ongoing recovery, along with the company's commitment to safety standards, performance, and sustainable growth. The company had reported a net loss of 31.5 million SAR in the second quarter, due to an 11% decline in revenue to 765 million SAR, driven by a drop in rig utilization rate to 72% from 79%. Additionally, the Ades rig has resumed operations in Saudi Arabia, with expectations that the utilization of lifted rigs will exceed 90%.

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