Arabian Drilling Company, Saudi Arabia, announced that Aramco has extended several onshore and one offshore rig contracts, due to expire in 2023, for periods ranging from 3 to 10 years.
The estimated aggregate contracts value represents up to Saudi Riyal (‘SAR’) three billion of additional firm contract backlog.
Ghassan Mirdad, Chief Executive Officer of Arabian Drilling, commented: “We are very pleased with the trust placed in us by our customers in extending some of our land and offshore rigs contracts. 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. “We continue to see a positive outlook in the market and pursue our growth strategy while remaining focused on achieving the highest Health, Safety and Environment standards across our operations. “
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