Abu Dhabi National Energy to acquire Schlumberger's Middle East drilling business for $415m.

Abu Dhabi National Energy, a government-controlled energy holding company of Abu Dhabi, agreed to acquire the Middle East drilling business of Schlumberger, the oilfield services company, for $415m. Through the expansion, Arabian Drilling will operate 58 onshore rigs and nine offshore rigs across the Middle East and North Africa. “This acquisition is fully aligned with Saudi Vision 2030. It unlocks value and drives growth across our entire value chain through a more integrated regional approach while positioning a leading Saudi company as a global player,” Azzam Shalabi, Abu Dhabi National Energy CEO.