This contract marks Arabian Drilling’s entry into a new GCC market, reflecting the Company’s ability to leverage its offshore expertise to secure new opportunities and support its long-term growth objectives. Operations are expected to commence before the end of the third quarter of 2026 and are anticipated to support backlog growth, enhance future revenue visibility, and further strengthen the Company’s long-term earnings profile.

The new contract follows the successful early completion of Arabian Drilling’s first international offshore drilling contract and the redeployment of the jack-up rig to another GCC country