An ADC offshore rig
Arabian Drilling Co. signed long-term contracts worth SAR 850 million for three land rigs with Saudi Arabian Oil Co. (Saudi Aramco), according to a Tadawul statement.
The contract duration is five years from the start of drilling operations as Arabian Drilling will supply three new land rigs with full crews for Aramco’s unconventional program in the Kingdom.
The total number of rigs contracted after the signing of the contracts will be 48 onshore rigs and 12 offshore units.
The contract is expected to be reflected starting Q1 2025 financials, the statement said, noting that there are no related parties to the deal.
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