Multiple drilling rig contracts extended by Aramco
Al-Khobar, Saudi Arabia based Arabian Drilling Company, the onshore and offshore drilling National Champion in Saudi Arabia, recently announced that Aramco has extended several onshore and one offshore rig contracts, due to expire in 2023, for periods ranging from 3 to 10 years.
The estimated aggregate contracts value represents up to SAR 3bn of additional firm contract backlog, according to a press statement.
“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,” remarked Ghassan Mirdad, CEO, Arabian Drilling.
“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,” he added.
