VOL. XLIV
No. 28
9-July-2001
SAUDI ARABIA
ADC Reports Net Profit Drop Of 5% In 2000
The Arabian Drilling Company (ADC) a joint venture owned 51% by Petromin and 49% by Services Petroliers Schlumberger has reported a net profit of SR54.0mn ($14.4mn) in 2000, a 5% drop from the previous years SR56.9mn ($15.2mn), mainly due to a non-recurring item unbudgeted customs duties amounting to SR4.0mn ($1.1mn), paid for rig AD-19 and four support vessels. Operating revenue for 2000 totaled SR296.5mn...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!