VOL. XXXIX

No. 45

5-August-1996

SAUDI ARABIA

Arabian Drilling Company Reports Lower Income In 1995

The Arabian Drilling Company (ADC) - a joint venture owned 51% by Petromin and 49% by Services Petroliers Schlumberger - has announced a fall in net income to SR4.3mn ($1.15mn) in 1995 from SR15.4mn ($4.1mn) in 1994, according to ADC's 1995 Annual Report. Revenue at SR141.9mn and income before tax at SR5.9mn also fell in 1995 from SR157.4mn and SR20.8mn respectively in 1994. However...