Abu Dhabi – Mubasher: ADNOC Drilling Company has entered into a definitive agreement to acquire 80% of MB Petroleum Services (MBPS), according to a press release.

Subject to regulatory approvals, the transaction marks its second acquisition in the region after taking over a majority stake in SLB's land drilling rigs business in Kuwait and Oman.

This deal is expected to significantly accelerate ADNOC Drilling’s regional expansion strategy, adding scale and capability and strengthening presence in four key Gulf economies.

MP is one of the leading drilling and oilfield services (OFS) providers in the region with operations in Oman, Kuwait, Saudi Arabia, and Bahrain.

Following the deal, MB LLC will retain a 20% stake of MBPS, marking a significant step in the MB Group’s journey as a diversified private investment house and ADNOC Drilling’s regional transformation.

Abdulla Ateya Al Messabi, CEO of ADNOC Drilling, said: “The transaction represents a strategic leap that is expected to amplify our capabilities, accelerate our regional momentum and reinforce our position as a key energy services provider in the region.”

“Upon completion, this partnership not only will strengthen our regional footprint but also position us to deliver enhanced value to our clients and shareholders in a rapidly evolving energy landscape,” Al Messabi added.

On his part, Usama Al Barwani, Vice Chairperson of MB Group, commented: “This is a significant milestone in our group-wide focus on being at the forefront of value and technology in all our industries, including Energy, Mining, Engineering Services and Real Estate Development.”

The ADX-listed group recently disclosed its financial results for the nine-month period that ended on 30 September 2025, logging net profits valued at $1.06 billion.