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Addendum Announcement by Arabian Drilling Company regarding the Company’s Expansion into a New GCC Market
| Element List | Explanation |
|---|---|
| Introduction | Further to Arabian Drilling Company’s announcement published on the Saudi Exchange website on 18 August 2026 regarding its expansion into a new GCC market. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2026-08-18 Corresponding to 1448-03-05 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | With reference to the Company's announcement regarding its expansion into a new GCC market, the Company would like to disclose that it has signed the contract with Masirah Oil Limited and Northern Offshore Ltd on 17 August 2026, with a value of less than 5% of total revenue as per the audited financial statements for 2025, to drill two firm wells in addition to two optional wells in Oman. The contract shall conclude upon completion of the drilling operations. This contract follows the successful completion of the Company's first international offshore drilling contract and the redeployment of the rig to another GCC market, reflecting the flexibility of the Company's operating model and its ability to capitalize on opportunities across the region. |
| Financial Impact on the change | There is no additional financial impact beyond what was disclosed in the previous announcement. The financial impact of the contract is expected to be reflected in the Company’s financial results during 2026. |
| Additional Information | There are no related parties involved in this contract |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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