“Arabian Drilling” expects to renew 4 contracts with Aramco worth two billion riyals
Today, the Arabian Drilling Company signed the renewal of four contracts with Saudi Aramco worth more than two billion riyals.
The company said in a statement on its website "Saudi Arabia trading": The signing of the contracts adds 30 new operational years to the company’s future business record to reach 12.2 billion riyals by the end of 2025, achieving a record in the company’s 61-year history.
With the renewal of these contracts, the Arabian Drilling Company has completed the renewal of all rig contracts scheduled to expire in 2025, noting that two of these four contracts are for rigs whose contracts expire during the year 2026. Three of the four contracts are For drilling platforms as part of the recently announced resumption of operations.
It expected that the financial impact of these contracts would appear upon the start of operation during the first quarter of 2026.
According to the company, these renewals reflect the company’s leading position in the Saudi drilling sector and confirm its commitment to providing high-quality and reliable drilling services.
It stated that the duration of the contracts is from 5 to 10 years, while the financial impact of this extension will apply to the company’s revenues starting from the first quarter of the year. 2026.
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