‎“Arabian Drilling” signs contracts for 10 land drilling rigs for ‎unconventional gas with Aramco

Arabian Drilling Company announced the signing of long-term contracts for (10) onshore drilling rigs with Saudi Aramco, with the total value of the contracts exceeding 3 billion riyals (excluding value-added tax), indicating that the contract period is 5 years from the date of commencement of the drilling operations contract.

The company said in a statement today on “Tadawul” that it will supply (10) new land drilling rigs with complete crews to carry out drilling and exploration operations within the unconventional program of Aramco in Saudi Arabia, indicating that the total number of rigs contracted after signing these contracts It will be (45) land drilling platforms and (12) offshore units.

It explained that the financial impact of this contract is expected to be reflected in the second quarter of the fiscal year 2024 AD.