Riyadh - Mubasher: Arabian Drilling Company (ADC) announced the purchase of a new self-elevating offshore services platform for approximately SAR 260 million, including modification and transportation costs, to enhance its operational capabilities in the offshore drilling sector.

The company clarified in a statement on the Saudi Stock Exchange (Tadawul) on Monday that the deal will be financed through internal sources, noting that the agreement was signed on April 6, 2025.

She added that the new platform will contribute to expanding its offshore services activities, which complement its core drilling operations. The company currently operates one offshore services platform in the Arabian Gulf.

The company stated that the new platform is expected to begin operations in the middle of this year under a two-year contract and is expected to add more than 170 million riyals to the company's business volume.

According to the statement, the company's platform count increased to 62 following the deal, including 49 onshore platforms, 11 offshore platforms, and two self-elevating offshore service platforms.