VOL. XXXVIII

NO. 40

3-JULY-1995

Saudi Arabia

Arabian Drilling Company Reports Lower Revenue For 1994

The Arabian Drilling Company (ADC) a joint venture owned 51% by Petromin and49% by Sedco Forex Schlumberger has announced a revenue of SR157mn ($41.9mn) andan income before tax of SR20.8mn ($5.5mn) in 1994, down from SR237mn ($63.2mn)and SR42.8mn ($11.4mn) respectively in 1993, according to ADC's 1994 AnnualReport. Net income fell to SR15.4mn ($4.1mn) from SR31.9mn ($8.5mn) in 1993.Drilling...