Extending a contract with Aramco worth 1.06 billion riyals

The Arab Drilling Company has announced the extension of its long -term contracts for two Britain drilling platforms with Saudi Aramco, at a value of 1.067 billion riyals.
“The Arab drilling” said in a statement on “Saudi Arabia’s circulation”, today, Monday, that it will continue to provide “Aramco” with two Britain’s drilling platforms, for a period of 10 years for each platform, with a full crew to carry out drilling missions in Saudi Arabia.
The company explained that one of the two platforms works in drilling the thermal energy, while the other operates as a maintenance platform for oil wells, noting the reflection of the financial impact of this extension on its financial statements in the second quarter of the fiscal year 2025.