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...
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