Arabian Drilling, one of the largest national onshore and offshore drilling contractors in Saudi Arabia, has secured multiple contracts from Aramco for ten additional Land Rigs.
The five-year contracts, which are worth $810 million (SR3 billion), are for Aramco’s unconventional gas program in Saudi Arabia.
All ten land rigs are new builds to be added to the Company’s current land rig fleet of 38 units, representing a land rig fleet increase of 26 percent.
Mr. Ghassan Mirdad, Chief Executive Officer of Arabian Drilling, commented that, “We are delighted with Aramco’s trust in awarding Arabian Drilling these multiple contracts, providing us with the opportunity to establish our footprint in the unconventional program.”
The CEO noted that this award fits perfectly with our growth strategy execution and we have strengthened the Company’s balance sheet precisely to be able to support growth capex opportunities like this one.
“We continue to see a positive outlook in the market and pursue our growth strategy in the Kingdom while remaining focused on achieving the highest health, safety, and environment standards across our operations,” Mr. Mirdad further added.
Established in 1964, Arabian Drilling is the leader in the drilling sector in Saudi Arabia, with an extensive track record of operational excellence and a history of innovation that has brought tremendous safety and efficiency gains to the drilling process.
Arabian Drilling serves clients including Saudi Aramco, Al-Khafji Joint Operations (KJO), SLB, as well as Baker Hughes, and has a large fleet of onshore and offshore rigs operated by highly skilled, qualified, and professional staff. Arabian Drilling rigs are built to withstand the harsh weather and desert conditions found in the Middle East region.