Arabian Drilling Bags Deal Extensions Worth $800mn from Aramco

Arabian Drilling Company, has announced that Aramco has extended several onshore and one offshore rig contracts worth about SR3 billion ($800 million), due to expire in 2023, for periods ranging from 3 to 10 years.

Ghassan Mirdad, Chief Executive Officer of Arabian Drilling, the onshore and offshore drilling champion in Saudi Arabia, commented: “We are very pleased with the trust placed in us by our customers in extending some of our land and offshore rigs contracts. In particular, the 10-year extension is an important milestone, it will give us good visibility and avenue to prove we can deliver outstanding performance, year on year.

“We continue to see a positive outlook in the market and pursue our growth strategy while remaining focused on achieving the highest Health, Safety and Environment standards across our operations.”