Saudi Arabia, Feb. 18 -- Arabian Drilling and Shelf Drilling, Ltd. ("Shelf Drilling") announced today the signing of a Memorandum of Understanding ("MOU") with the intention of forming a strategic alliance (the "Alliance") which aims to deploy some of Arabian Drilling's premium jack-up rigs internationally and expand the reach and capabilities of both companies. Arabian Drilling (Saudi Stock Exchange "XSAU": 2381) is the largest onshore and offshore drilling company in Saudi Arabia by fleet size.Shelf Drilling (Oslo Stock Exchange "OSE": SHLF) is a leading international shallow water offshore drilling contractor with rig operations across the Middle East, Southeast Asia, India, West Africa, the Mediterranean and the North Sea. The AllianceU...