Image by John R Perry from Pixabay ; Image used for illustrative purpose only.
1 minute read

Arabian Drilling awarded $226.6 Million Land Rig Contracts from ARAMCO

Arabian Drilling Company, Saudi Arabia, announces multiple contracts awards from Aramco for three (3) additional Land Rigs.

The contracts’ firm terms durations (i.e., excluding options) are five (5) years with estimated aggregate contracts value up to eight hundred and fifty (850) Million Saudi Riyals.

These Three (3) contract awards are for additional land rigs assigned to Aramco’s Unconventional Program. The three (3) land rigs are to be added to the Company’s current land rig fleet of 48 units, representing a land rig fleet increase of 6.25%.

Ghassan Mirdad, Chief Executive Officer of Arabian Drilling, commented, “We are delighted with this new award which further consolidates our footprint in the Unconventional Gas fields by bringing the total number of brand-new land rigs that Arabian Drilling will deploy to thirteen (13). This is another important step in the execution of our strategy.

Our operations mix of conventional drilling in both land and offshore, and now in unconventional, is in line with our strategy execution and proves the resilience of our business model. The successful startup of the 10 new land rigs previously announced is a key priority in 2024. While we will deploy our new rigs, we always remain focused on achieving the highest Health, Safety and Environment standards across our operations.”

Legal Disclaimer:
Saudi Gulf Projects
GLOBAL FLOW CONTROL provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above. "

Latest News

  • Petro (Chemicals)
    1 minute read

    ExxonMobil to invest $15 billion in…

    18 Jun. 2024 | Global Flow Control
  • Renewables
    1 minute read

    CIP enters into partnership with Atlas…

    18 Jun. 2024 | Global Flow Control
  • Hydrogen and Carbon Capture
    1 minute read

    Essar to set up green hydrogen…

    18 Jun. 2024 | Global Flow Control
  • Renewables
    1 minute read

    Gruner Renewable to build Asia’s largest…

    17 Jun. 2024 | Global Flow Control