Saudi Aramco extends multiple drilling deals
Saudi Arabia 
RIYADH, August 16, 2023 – Arabian Drilling Company has extended several onshore and offshore rig contracts with Saudi Aramco for periods ranging from 3 to ten years, the Saudi Arabian oil rig drilling entity announced on Monday.
The deals represent a value of USD 799 million in additional firm contract backlog.
All contracts were due to expire in 2023.
“We are very pleased with the trust placed in us by our customers in extending some of our land and offshore rig contracts,” said Ghassan Mirdad, CEO of Arabian Drilling Company.
“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.”
Specific contracts and rigs were not named.
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