Arabian Drilling secures $227mln land rigs contracts from Aramco

Arabian Drilling secures $227mln land rigs contracts from Aramco

Saudi-listed Arabian Drilling Company said on Thursday that it has secured contracts from Saudi Aramco for three additional land rigs to support the oil and gas giant’s unconventional programme.

The contract duration is five years at an estimated value of up to SAR850 million ($226.65 million).

The three contracts, with full crews, are part of Aramco’s unconventional programme. The three land rigs will increase the company’s current land rig fleet of 48 units, representing an increase of 6.25 percent.

“Our operations mix of conventional drilling in both land and offshore, and now in unconventional, is in line with our strategy execution. The successful startup of the 10 new land rigs previously announced is a key priority in 2024,” said Ghassan Mirdad, CEO of Arabian Drilling.

Read more: Saudi Aramco directed not to raise oil production capacity

(Writing by D Madhura; Editing by Anoop Menon)

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