Arabian Drilling And Shelf Drilling Forge Strategic Alliance To Expand Offshore Operations

(MENAFN- The Arabian Post) Arabian Post -

Arabian Post Staff -Dubai

Arabian Drilling and Shelf Drilling have signed a memorandum of understanding to establish a strategic alliance aimed at enhancing their international offshore drilling capabilities. This collaboration seeks to leverage the strengths of both companies to offer comprehensive services to a broader clientele and increase their competitiveness in the global market.

Under the terms of the MoU, Arabian Drilling will gain access to Shelf Drilling's extensive international operating platform and diverse customer relationships. This partnership will enable Arabian Drilling to deploy its high-specification jack-up rigs in new markets, meeting specific contract requirements and expanding its operational footprint beyond its traditional areas of operation.

Ghassan Mirdad, CEO of Arabian Drilling, expressed enthusiasm about the alliance, stating that it provides a clear pathway to execute the company's strategy of developing an international presence. He highlighted Shelf Drilling's expertise and global reach as pivotal factors that will facilitate the introduction of Arabian Drilling's advanced rigs to new markets. Mirdad also emphasized the strong cultural alignment between the two companies, particularly their shared commitment to the highest health, safety, and environmental standards.

Greg O'Brien, CEO of Shelf Drilling, echoed similar sentiments, noting that the alliance represents a significant step in the company's commitment to delivering operational excellence and best-in-class services to customers. By combining Shelf Drilling's international presence and focus on safety with Arabian Drilling's premium jack-up rigs, the partnership is well-positioned to unlock new opportunities in core markets and drive value for stakeholders.

This strategic move comes at a time when the offshore drilling industry is witnessing increased collaboration among key players to address evolving market demands and technological advancements. The alliance between Arabian Drilling and Shelf Drilling is poised to capitalize on these trends, offering clients enhanced services through combined resources and technical expertise.

Arabian Drilling, established in 1964, has a longstanding history in the drilling sector, primarily operating within the Middle East. The company has built a reputation for providing reliable and efficient drilling services, with a fleet comprising both onshore and offshore rigs. This partnership marks a significant milestone in its efforts to expand its reach and influence in the global market.

Shelf Drilling, founded in 2012, specializes in shallow water offshore drilling services. With operations spanning the Middle East, Southeast Asia, India, West Africa, the Mediterranean, and the North Sea, the company has established itself as a prominent player in the industry. Its focus on safety and operational efficiency has garnered a diverse clientele, including major international oil companies and national oil companies.

The collaboration is expected to bring mutual benefits, allowing both companies to optimize their assets and capabilities. By utilizing Arabian Drilling's high-specification rigs, Shelf Drilling can enhance its service offerings to meet specific client needs. Conversely, Arabian Drilling stands to gain from Shelf Drilling's established international infrastructure and customer base, facilitating a smoother entry into new markets.

Industry analysts view this alliance as a strategic response to the dynamic nature of the offshore drilling sector. The combined expertise and resources of both companies are anticipated to create a more robust service offering, positioning the alliance to effectively compete on a global scale. This partnership also reflects a broader trend of consolidation and collaboration within the industry, as companies seek to enhance their competitiveness and operational efficiency.

via Arabian Drilling and Shelf Drilling Forge Strategic Alliance to Expand Offshore Operations

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