FEB has acquired a 40% stake in the Arab Drilling and Workover Company (ADWOC), one of the leading oil and gas onshore contract drilling and workover companies based out of Libya. Established in 1980, ADWOC has been providing its drilling and workover services across the Arab World. The ADWOC acquisition fits well into FEB’s investment portfolio as it provides the bank with the diversity and strong foundation necessary to support future expansion in this sector. Additionally, it complements some of the other investments that the Bank is involved in, including the offshore drilling investment of MENAdrill.