VOL. XLI
No. 39
28-September-1998
SAUDI ARABIA
ADC Boosts Net Income To $8mn in 1997
The Arabian Drilling Company (ADC) a joint venture owned 51% byPetromin and 49% by Services Petroliers Schlumberger has reported an increase innet income to SR29.8mn ($7.9mn) in 1997 from SR8.1mn ($2.2mn) in 1996, according to thecompanys 1997 annual report. Total revenue in 1997 increased to SR257.6mn ($68.7mn),a 67% increase from SR154.2mn ($41.1mn) in 1996, on the back of three new land rigcontracts with...
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