Arabian Drilling announces multiple contracts extensions with Saudi Aramco for SAR 3 billion for periods from 3 to 10 years

Arabian Drilling, the onshore and offshore drilling National Champion in Saudi Arabia, 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 company stated on Monday on Tadawul that the contracts’ value up to SAR 3 billion (Excluding VAT), provided that it will continue supplying multiple onshore and offshore rigs with full crew to perform the drilling operations in the Kingdom of Saudi Arabia.

Contribution to the Company’s revenue is expected to start in Q3 2023.