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ADNOC Drilling to acquire 80% stake in MB Petroleum Services · The Sipping Bulletin

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M&A

ADNOC Drilling to acquire 80% stake in MB Petroleum Services

WAM (Emirates News Agency) · Wed 5 Nov, 07:13 GST

ADNOC Drilling agreed to buy 80% of Oman-based MB Petroleum Services (enterprise value $204m / AED749m), adding 21 rigs and operations in Oman, Kuwait, Saudi Arabia and Bahrain; completion expected H1 2026.

Read at source ↗

Sources · 5

5 sources

Confirmed by at least one primary source or two independent outlets.

WAM (Emirates News Agency)Primary source · UAE · FreeRead ↗
Khaleej TimesPress · UAE · FreeRead ↗
Gulf NewsPress · UAE · FreeRead ↗
Zawya (LSEG)Press · Gulf · FreeRead ↗
Offshore EngineerPress · United States · FreeRead ↗

Who is involved

Tap a name to see who it touches this week.

Company: ADNOC Drilling Company: MB Petroleum Services Country or territory: Oman Country or territory: Kuwait Country or territory: Bahrain Country or territory: Saudi Arabia Company: MB Holding

In the bulletins

Wed 5 Nov · Midday bulletinADNOC's home spend firms up while distant bets stay minority or pending Wed 5 Nov · Opening bulletinADNOC buys rigs and builds Ruwais while far-off moves stay on paper