Energy
Arabian Drilling unveils 4-rig contract extensions with Saudi Aramco
Riyadh: Arabian Drilling secured contract extensions for four of its rigs with Saudi Aramco, with a combined backlog value of SAR 1.37 billion and durations ranging between one to 10 years.
This milestone boosts the company's current backlog to SAR 11.10 billion, according to a press release.
In line with its commitment to delivering exceptional service quality, Arabian Drilling is expected to realize the financial impact of extensions starting the third quarter (Q3) of 2025.
Ghassan Mirdad, CEO of Arabian Drilling, commented: "Securing these contract extensions enhances our financial stability and reinforces our strategic position within the industry as we advance towards achieving sustained growth and realizing long-term success in a competitive market.”
In November 2024, the two companies inked an extension deal for land rigs at a value of SAR 290 million.
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