Arabian Drilling Company, a major national onshore and offshore drilling contractor in Saudi Arabia, has announced that Aramco has extended several onshore contracts and one offshore rig contract, due to expire in 2023, for periods ranging from three to 10 years
The estimated aggregate contracts value represents up to SAR3bn (US$799.68mn) of additional firm contract backlog. This follows the news earlier in August that the company has won a number of five-year contracts from Aramco for 10 additional land rigs.
Ghassan Mirdad, chief executive officer of Arabian Drilling, commented, “We are very pleased with the trust placed in us by our customers in extending some of our land and offshore rigs contracts. In particular, the 10-year extension is an important milestone, it will give us good visibility and avenue to prove we can deliver outstanding performance, year on year.
“We continue to see a positive outlook in the market and pursue our growth strategy while remaining focused on achieving the highest health, safety and environment standards across our operations.“