Arabian Drilling renews four Aramco contracts worth over SAR 2B

09:56 AM (Mecca time) Argaam
Arabian Drilling, Aramco renew four rig contracts worth over SAR 2B

Arabian Drilling, Aramco renew four rig contracts worth over SAR 2B

Arabian Drilling Co. secured extensions for four rig contracts with Saudi Arabian Oil Co. (Saudi Aramco), adding more than SAR 2 billion to its backlog, with durations ranging from five to ten years.

 

In a statement to Tadawul, the company said the renewals will add 30 committed rig years to its future backlog, lifting it to SAR 12.2 billion by the end of 2025, the highest level in its 61-year history.
 
With the latest extensions, Arabian Drilling finalized all planned rig contract extensions for 2025. Two of the four extensions relate to rigs whose terms end in 2026. Three of the four contracts are part of the recently announced resumptions, while one is currently active.

 

The financial impact of these contracts is expected to appear once operations begin in Q1 2026. The company added that the renewals underscore its standing in the Saudi drilling sector and reaffirm its commitment to delivering high-quality, reliable drilling services.

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