The Clap
Arabian Drilling Company will supply global energy giant Aramco with three new land rigs, along with full crews, for drilling and exploration operations as part of the latter’s unconventional program.
What
Arabian Drilling Company, providing land and offshore drilling services since 1964, has signed long-term contracts for three unconventional gas land rigs with Saudi Aramco, totaling SAR 850 million.
The contracts span five years from the commencement of drilling operations.
So What
The company stated that the total number of rigs contracted will reach 48 onshore rigs and 12 offshore units, increasing its land rig fleet by 6.25%.
Now What
The financial impact of these “new contracts” will be reflected in the first quarter of the fiscal year 2025.
