April 21, 2019 / 6:09 PM / 6 months ago

Saudi ADC to acquire Schlumberger's Saudi drilling business - Al Maaal

DUBAI (Reuters) - Khobar-based Arabian Drilling Company (ADC) will acquire the Saudi drilling business of Schlumberger, news publication Al Maaal reported on Sunday, citing unnamed sources.

ADC is a partnership between the Industrialization & Energy Services Company (TAQA), a Saudi Joint Stock company and Services Petroliers Schlumberger S.A., which owns the remaining 49 percent, according to ADC’s website.

Reporting by Dahlia Nehme; writing by Saeed Azhar, editing by Hadeel Al Sayegh

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