Arias, Fábrega & Fábrega acted as local Panamanian counsel and advised ADNOC Drilling, in connection with the acquisition of a 70% interest in Schlumberger’s land rig operations in Oman and Kuwait. The transaction, valued at up to US$ 112 million, involved the formation of a joint venture between ADNOC Drilling and Schlumberger. It included the transfer of eight fully operational onshore drilling rigs, six in Oman and two in Kuwait.