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Adnoc Drilling completes $204 million acquisition of 80% stake in MB Petroleum Services to bolster Gulf expansion.
May 04, 2026•about 2 months ago
Contract Type
partnership
Abu DhabiEnergyOil And GasRenewable EnergyLogisticsDescription
Adnoc Drilling has finalized its acquisition of an 80% stake in Oman’s MB Petroleum Services for $204 million. This joint venture is expected to enhance its regional presence and operational capabilities across the Gulf markets, including Oman, Kuwait, Saudi Arabia, and Bahrain.
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Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months