ADNOC Drilling has acquired an 80% stake in Oman-based MB Petroleum Services (MBPS), while MB LLC retains a 20% share, MBPS said on Wednesday.
The deal marks a significant regional expansion for ADNOC Drilling and a strategic milestone for MB Group, which founded MBPS in 1982 as the first oilfield services firm in Oman.
MBPS operates more than eight drilling rigs, 13 workover rigs and six wireline and well testing units across Oman, Saudi Arabia, Bahrain and Kuwait, with more than 1,400 personnel.
“ADNOC Drilling is a major player with remarkable sustainability and technological breakthroughs,” MB Group vice-chairperson Usama Al Barwani said.
MB Group will continue to grow its diversified portfolio across energy, mining, engineering services and real estate, maintaining operations across Asia, Africa and Europe.
Founded in 1972, ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size. Its activities include drilling, workover and well completion services, supporting ADNOC’s upstream operations and regional expansion across MENA markets.
