Arabian Drilling, Aramco renew four rig contracts worth over SAR 2B
Arabian Drilling Co. secured contract extensions for four of its rigs with Saudi Arabian Oil Co. (Saudi Aramco), for a total backlog value exceeding SAR 2 billion, with durations varying between five and ten years. 
In a statement to Tadawul, the company said the renewals will add 30 new operating years to its future backlog, bringing it to SAR 12.2 billion by the end of 2025, a record high in the company’s 61-year history.
With these renewals, Arabian Drilling completed the renewal of all rig contracts set to expire in 2025. The company noted that two of the four contracts relate to rigs whose terms end in 2026, while three of the four contracts cover rigs included in recently announced restart operations.
The financial impact of these contracts is expected to appear once operations begin in Q1 2026. The company added that the renewals underscore its standing in the Saudi drilling sector and reaffirm its commitment to delivering high-quality, reliable drilling services.
Arabian Drilling, Aramco renew four rig contracts worth over SAR 2B
Arabian Drilling Co. secured contract extensions for four of its rigs with Saudi Arabian Oil Co. (Saudi Aramco), for a total backlog value exceeding SAR 2 billion, with durations varying between five and ten years.
In a statement to Tadawul, the company said the renewals will add 30 new operating years to its future backlog, bringing it to SAR 12.2 billion by the end of 2025, a record high in the company’s 61-year history.
With these renewals, Arabian Drilling completed the renewal of all rig contracts set to expire in 2025. The company noted that two of the four contracts relate to rigs whose terms end in 2026, while three of the four contracts cover rigs included in recently announced restart operations.
The financial impact of these contracts is expected to appear once operations begin in Q1 2026. The company added that the renewals underscore its standing in the Saudi drilling sector and reaffirm its commitment to delivering high-quality, reliable drilling services.
