VOL. XL

No. 30

28-July-1997

SAUDI ARABIA

ADC Reports Increase In 1996 Net Income And Revenue

The Arabian Drilling Company (ADC) - a joint venture owned 51% by Petromin and 49% byServices Petroliers Schlumberger - has reported an increase in net income to SR6mn($1.6mn) in 1996 from SR4.3mn ($1.1mn) in 1995, according to ADC's 1996 Annual Report.Total revenue in 1996 rose to SR154.2mn ($41.1mn) from SR141.9mn ($37.8mn) in 1995, butcapital expenditure fell by more than half to SR15.1mn ($4.0mn)...