Arabian Drilling secures SAR 1.1B contract extensions for 2 rigs with Aramco
Arabian Drilling Co. (ADC) extended today, May 5, long-term contracts for two onshore drilling rigs with Saudi Aramco.
In a statement to Tadawul today, the company said the contract is valued at SAR 1.06 billion, with a duration of 10 years for each drilling rig.
The financial impact of this extension will appear in Q2 2025, Arabian Drilling expects.
Under the contract, Arabian Drilling will continue to supply Aramco with two land drilling rigs, along with a full crew to carry out drilling operations in Saudi Arabia.
No related parties are involved, the company noted.
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